MSC wants Global Ports Holding
According to Reuters, Global Ports Holding has confirmed that it has received an offer from MSC Group.
Reuters reported that Global Ports Holding (GPH) has confirmed that MSC Group has submitted an offer to acquire a majority stake in the company.
In the statement made by GPH to KAP, which is the largest in the world with 26 ports that are traded on the London Stock Exchange and operated in 14 countries, the following statements were included,
Negotiations are proceeding
Our indirect subsidiary Global Ports Holding Plc, taking into account the news in some media, by the rule no. 2.4 of the “City Code on Takeovers and Mergers”, which regulates the rules of conduct regarding the acquisitions and mergers of publicly-traded companies in the UK, MSC Mediterranean Shipping Company Holding SA’s 100% subsidiary, SAS Shipping Agencies Services S.a.R.L, has announced that it has approached a possible takeover offer regarding all of GPH’s shares and that negotiations are ongoing.
It was stated that the evaluations regarding this issue are at an early stage, that no decision has been taken regarding an offer to purchase the shares of GPH, whether such an offer will be made in the end, and/or there is no certainty regarding the terms of a possible offer.
Our Company, which owns the majority shares of GPH, has not taken any binding decision regarding this issue.
As stated in the statement made by GPH, in the following period, SAS has its firm intention to propose GPH by rule 2.7 of the Code by 17:00 on 13.07.2022; or that he will not make any offer in a way that the Code’s rule no. 2.8 will be valid. In accordance with Code Rule 2.6 (c), this period may be extended with the approval of the Takeover Panel, the regulatory body responsible for the implementation of the Code.
The English announcement made by GPH on the subject is attached and can be accessed on the corporate website of GPH (Investors, Regulatory News).
The public will continue to be informed about the developments.
