2015-09-21

MSC SIGNS CONTRACT FOR THE PURCHASE OF CP CARGO IN PORTUGAL

MSC Rail – subsidiary of MSC Mediterranean Shipping Company SA “MSC” – signed today with CP – Comboios de Portugal, E.P.E., the purchase contract of CP Cargo - Logistics and Cargo Railway Transports SA, the second biggest rail operator in the Iberian Peninsula. The deal was closed for 53 million euros, from which 51 million will be used for the company’s recapitalization. The official conclusion of the business is still pending on the decision of the Portuguese Competition Authority.

 

This deal between the two parties comes after the open competition for CP Cargo’s acquisition where MSC won the race. As part of the strategic plan presented, among other things, MSC is committed in keeping the Company’s Agreement currently in force. 

According to Giuseppe Prudente, Logistics Manager of MSC “The railway transport has always been a priority for MSC and 20% of our business is already done by rail worldwide. MSC recognizes the rail network that Portugal has, which is already used by most part of MSC’s clients nowadays. This investment represents a serious commitment that MSC has with Portugal, where has been an active long-term investor, contributing for the national economy”.

Carlos Vasconcelos, Managing Director of MSC Portugal, reinforces that “the investments done by MSC assume a long-term development plan that will improve and take full advantage of the company’s infrastructure and transform it into the first Iberian cargo railway transporter. “It is our commitment to provide our clients a high quality standard service”. 

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