MSC Mediterranean Shipping Company SA, through its wholly owned subsidiary SAS Shipping Agencies Services Sàrl, has agreed to acquire 100% of the share capital of Rimorchiatori Mediterranei S.p.A., an international leading towage operator active in Italy, Malta, Singapore, Malaysia, Norway, Greece and Colombia, from Rimorchiatori Riuniti and a fund managed by DWS’s Infrastructure Investment business.
With this transaction, MSC continues to confirm its willingness to further improve towage service efficiency across all Rimorchiatori Mediterranei’s operations.
Completion remains subject to the receipt of approvals, including from the relevant competition authorities, and deal terms are not disclosed.
Diego Aponte, MSC Group President, commented:
“We are very pleased to be able to become part of the exciting next phase for growth and improvement at Rimorchiatori Mediterranei and we look forward to continuing to expand the business, building on the impressive work of the families that developed the company these past 100 years.”
Gregorio Gavarone, Executive President of Rimorchiatori Riuniti, commented:
“We believe Rimorchiatori Riuniti, together with DWS, has done an incredible job over the past few years to support Rimorchiatori Mediterranei in becoming one of the leading towage companies in the world. Thanks to its global network in shipping and port operations, we think MSC is going to be the ideal investor to accompany Rimorchiatori Mediterranei towards its next growth chapter.”
Hamish Mackenzie, Head of Infrastructure at DWS also commented:
“The evolution of Rimorchiatori Mediterranei has been a considerable success story for DWS; we are grateful for the strategic partnership we developed with Rimorchiatori Riuniti and its shareholders, and we are proud to have supported our industrial partner in managing and growing Rimorchiatori Mediterranei to become one of the global leaders in the harbour towage sector.
We thank Rimorchiatori Mediterranei’s management team for their work to keep the ports we serve safe and efficient, and for the outstanding energy and vision they have shown in transforming this business into a truly global player. With MSC, Rimorchiatori Mediterranei has found a partner which shares their drive and ambition for continued growth, and we are confident both parties will continue to deliver the full potential of Rimorchiatori Mediterranei.”
UniCredit acted as financial advisor, KPMG as accounting and tax due diligence advisor and Chiomenti as legal advisor to MSC, whilst Lazard acted as financial advisor together with Pedersoli and Legance as legal advisors to Rimorchiatori Riuniti and DWS.
MSC Mediterranean Shipping Company, headquartered in Geneva, Switzerland, is a global leader in transportation and logistics, privately owned and founded in 1970 by Gianluigi Aponte. As one of the world’s leading container shipping lines, MSC has 675 offices across 155 countries worldwide with the MSC Group employing over 150,000 people. With access to an integrated network of road, rail and sea transport resources which stretches across the globe, the company prides itself on delivering global service with local knowledge. MSC’s shipping line sails on more than 260 trade routes, calling at 520 ports.
About Rimorchiatori Riuniti Group
Rimorchiatori Riuniti, founded in 1922 by a group of Genoese families, is currently commemorating its 100th anniversary; the Group will keep on operating its services in ship owning, ship management, and offshore activities through the 100% controlled companies Crystal Pool and Finarge.
About DWS Group
DWS Group (DWS) with EUR 833bn of assets under management (as of 30 June 2022) aspires to be one of the world's leading asset managers. Building on more than 60 years of experience, it has a reputation for excellence in Germany, Europe, the Americas and Asia. With approximately 3,600 employees in offices all over the world, we are local while being one global team. DWS is recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.
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