Home GCCAutomotive MSC launches $700m takeover bid for Gram Car Carriers

MSC launches $700m takeover bid for Gram Car Carriers

by admin
18 views


Liner giant Mediterranean Shipping Co (MSC) has moved to take over Gram Car Carriers (GCC) in a potential deal that values the world’s third-largest car carrier tonnage provider at about NOK7.6bn ($700m).

The offer of NOK263.69 per share in cash has been made via MSC subsidiary Shipping Agencies Services (SAS) and represents a premium of 28.3% to GCC’s stock price on April 23.

The board of the Oslo-listed GCC, which reported a revenue backlog of $794m at the end of the first quarter, has unanimously resolved to recommend…



Source link

You may also like

About Us

GCC Weekly™ curates,  aggregates and disseminate socio-economic, technology and political news about the Gulf Corporation Council (GCC) member countries. Six Middle East countries that make GCC are Bahrain, Oman, Kuwait, Saudi Arabi, Qatar and United Arab Emirates.

 

GCC Weekly™, in collaboration with Arab Newswire, publishes and distributes press releases to media in the GCC countries. For more information on press release distribution, complete the form on the right or contact us by using any of the social media handles shown below.

 

WhatsApp: +1 832-716-2363
Skype: groupwebmedia
Telegram: @groupwebmedia

Contact Us

Recent News

GCC Weekly™ is part of GroupWeb Media Network. © 2024 GroupWeb Media LLC