Contship Italia has reached a share purchase agreement with Terminal Investment Ltd (TIL) subsidiary Itaterminaux S.à.r.l. for CSM Italia Gate, the company which owns Italy’s largest container terminal.
It was previously revealed by Contship that MSC Mediterranean Shipping Company was in negotiations for a 50% share in the operators of Medcenter Container Terminal (MCT), but that deal never came to fruition.
TIL has instead made the decision to increase its existing half-stake in CSM Italia Gate and MCT to full ownership, and it will now control 100% of shares in the terminal.
MCT is the concessionaire of container terminal activities at the Port of Gioia Tauro, one of Italy’s busiest ports and a crucial trade gateway.
Contship, which began operations at Gioia Tauro 24 years ago, has thanked employees, customers and partners of MCT for their support and assistance during its time at the terminal.
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TIL has also expressed its gratitude to Contship for its cooperation over several years and during the negotiations which culminated in a share purchase agreement.
Terms of the deal, which is still subject to regulatory approval, have not been disclosed by the involved parties.