GENEVA: January 22, 2016. MSC Rail, part of the Mediterranean Shipping Company (MSC), has completed the acquisition of Portuguese rail freight operator CP Carga for €53 million.
According to Giuseppe Prudente, head of logistics at MSC: "We have now the chance to put our strategic plan in action, to drive the company towards a bright future and develop it into a major player in the Iberian Peninsula in the coming years. The acquisition and the related investments demonstrate MSC’s unwavering commitment to Portugal and the development of its logistics sector.”
Carlos Vasconcelos, MSC Portugal managing director, said the company’s investment is part of a long-term development plan that will turn CP Carga into a leading Iberian rail freight operator.
The Portuguese Competition Authority approved the purchase in December 2015, three months after the initial sale and purchase contract was signed in Lisbon, following a public tender for the sale of the rail company. MSC has acquired 95 percent of the CP Carga with the remaining five percent offered to employees.
Following the lifting of sanctions, MSC has resumed vessel operations to Iran, three years after services were suspended. The company said its 9,400 TEU MSC Domitille’s call at the southern Iran port of Shahid Rajei (Bandar Abbas) at the end of December paved the way for resuming business with the country. The vessel operates on MSCs New Falcon service between Asia and the Middle East, with transit times of 21 days from Shanghai to Shahid Rajei.