GPH-Global Ports Holding terminates takeover talks with MSC Group

   July 14, 2022 ,   Cruise Industry

GPH-Global Ports Holding Plc is an Istanbul Turkey-based company currently ranked the world's largest cruise port operator and also manages under concession several container ship terminals. GPH's Board terminated talks with a company part of the MSC Group-Mediterranean Shipping Company Holdings SA (world's largest container carrier) regarding the possible takeover of GPH.

GPH had previously announced that its primary shareholder - the company Global Yatırım Holding (controlled by the Turkish businessman Mehmet Kutman /GPH's CEO, Chairman and Founder), was in discussions with MSC.

On June 15, 2022, GPH received an approach regarding the potential cash offer for all its shares by SAS Shipping Agencies Services Sarl (MSC's wholly-owned subsidiary) and discussions were ongoing.

In a statement, the port operator said that GPH’s board of directors had terminated those talks with SAS.

GPH created a market position focusing on cruise ports, and positioning itself as the world's largest cruise port manager, with an integrated network of seaports serving passenger vessels (ferries, cruisers, yachts, superyachts). GPH reports handling ~1,5 million passengers annually with 5400+ port calls.

In addition to being the world's largest container shipping company, MSC Group also operates MSC Cruises - one of the world's top 3 largest cruise shipping companies. MSC's controlling family recently agreed to make an investment in the financially troubled Italian ferry company MOBY LINES - part of a restructuring of the debt from the acquisition of ferry operator TIRRENIA. In April 2022, MSC agreed to buy the logistics operations of Bollore Group, which operates in 47x African countries with 16 container terminals, in a deal valued at US$6.4 billion. 

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