MSC inks deal to acquire controlling stake in Wilson Sons for BRL 4.35 bn

European shipping giant MSC has reached an agreement to acquire a controlling stake in Wilson Sons, a Brazilian port services company, for R$17.50 per share, according to a notice released by the company on Monday, October 21.

In a material fact filing with the Securities and Exchange Commission of Brazil (CVM), Wilson Sons noted that the unadjusted acquisition price of R$17.50 per share is slightly below the company’s closing stock price of R$17.85 on Friday, October 18.

Wilson Sons’ parent company, OW Overseas, will sell its 56.47% stake in the company, equivalent to 248,664,000 shares, as outlined in the statement.

The acquisition will be executed through SAS Shipping Agencies Services Sàrl, a subsidiary of MSC, which is headquartered in Geneva and is a global leader in container shipping and terminal operations.

Wilson Sons stated that the deal will allow the company to distribute dividends approved by the board on October 11, and to continue paying dividends in Brazilian reais equivalent to up to US$22 million per quarter until the transaction is completed, provided the company generates sufficient profits during the respective quarters. If the dividends paid exceed the agreed limit, the purchase price will be adjusted accordingly to reflect the excess.

The transaction’s realization is subject to customary regulatory approvals, including those from the Brazilian antitrust authority (CADE) and the National Waterway Transport Agency (Antaq).

The deal is expected to close in the second half of 2025. Upon closing, SAS Shipping Agencies Services Sàrl will launch a public tender offer for the remaining shares of Wilson Sons under the same terms as the agreement with OW Overseas.

The second-largest shareholder in Wilson Sons is Tarpon Capital, holding 12.11%, while Radar Gestora holds 9.62%, according to company data.

Wilson Sons’ portfolio includes container terminals in Bahia and Rio Grande do Sul, a fleet of 80 tugboats, 23 offshore support vessels under the Brazilian flag, two offshore support bases in Guanabara Bay, a bonded logistics center in Santo André, and two shipyards in Guarujá.

The chart below uses DataLiner data to assess container exports and imports at the Port of Rio Grande between January 2022 and August 2024. DataLiner data encompass only long-haul shipments, not including cabotage or transshipment operations.

Rio Grande Container Exports & Imports | Jan 2022 – Aug 2024 | TEUs

Source: DataLiner (click here to request a demo)

Source: Isto É Dinheiro

Original reporting: https://istoedinheiro.com.br/msc-faz-acordo-para-comprar-controle-da-wilson-sons-por-r-435-bilhoes/

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