Mediterranean Shipping Company’s Terminal Investment Ltd (TIL) has reached an agreement to take over control of Medcenter Container Terminal S.p.A. from Italian terminal operator Contship Italia.
Contship Italia and TIL’s subsidiary Itaterminaux S.à.r.l. have executed a share purchase agreement related to the sale of 50% of CSM Italia Gate, which owns 100% of MCT.
The parties did not disclose the terms of the transaction, for which the regulatory approvals are still pending. The companies launched negotiations on the sale in mid-March 2019.
MCT is the concessionaire of the container terminal activities in the port of Gioia Tauro and TIL already owned 50% of CSM Italia Gate S.p.A. At closing, TIL will own 100% of CSM Italia Gate S.p.A. and will indirectly control all the shares of MCT.
Contship Italia Group started and has been running the now largest Italian container terminal for over 24 years.