MSC takes 4 ships and 49% share of Messina Group for just 25 million euro
The agreement will be formally closed in the coming months after the final approval needed from the Antitrust authority
Banca Carige and Messina Group announced they have reached a final agreement on the terms of the debt renegotiation (rescheduling until 2032) with the approval of some other banks and with the active role of the MSC group as a new partner.
The Genoa-based shipping company has a financial exposure of over €450m ($515m) mainly with Banca Carige related to the fleet renovation plan completed in the last few years with 8 new con-ro ships built in South Korea by Daewoo and STX shipyards from 2011 to 2015.
Under the agreement, due to be formally closed in the coming months, after the final approval needed from the Antitrust authorities, MSC will invest just €25m ($28.5m) for a 49% stake of Ignazio Messina & C. Group and for a 52% stake in a new vehicle controlling 4 of the 8 modern con-ro ships.
More specifically the units set to be 52% controlled by MSC will be Jolly Diamante, Jolly Perla, Jolly Titanio and Jolly Cobalto.
Aside fresh money Gianluigi Aponte is to put in the Genoa-based shipping company, also the Messina family will put €5m to re-launch the business through synergies between Italian and Swiss firms.