MSC Group withdraws from Terminal Darsena Toscana acquisition

The MSC Group (MSC) will not proceed with its acquisition of Terminal Darsena Toscana, in Livorno, Italy. Conditions for acquisition had MSC’s terminal arm Terminal Investment Ltd (TIL) had been announced last January.

Under those terms, TIL subsidiary CSM Italia Gate would have bought 100% of the share capital of Gruppo Investmenti Porutali (GIP) Darsena Toscana terminal for an undisclosed sum.

MSC’s withdrawal was announced by Italy’s Antitrust Authority (Agcm) in a Weekly Bulletin.

It said that: “given the communication received from CSM Italia-Gate SpA on 30 June 2023, with which the formal withdrawal of the notification of the operation”, the authority had resolved to not express itself regarding the acquisition process.

It went on to say that the merger transaction notification form, which was received on 9 March 2023, has been “formally withdrawn” and that therefore there is no need for it to offer an opinion.

Italy 24 reported the president of the governing body of the ports of Livorno, Piombino, Capraia Isola, Portoferrario, Rio Marina and Cavo, Luciano Guerrieri, as saying: “Considering precisely the authorisation procedure to be done, I had cautiously commented positively on the news of the acquisition of the TDT Terminal by MSC.”

“Equally cautious, because we do not yet know the reasons for this decision, I evaluate with concern this step by MSC to withdraw its offer to purchase the aforementioned terminal. I hope that the decision represents only a pause for reflection and that, after August, the procedure can resume in the context of a constructive dialogue between buyer and seller and in compliance with a necessary and balanced role with regulatory bodies,” he reportedly said.

“I am convinced that the port of Livorno still represents a strategic choice for operators interested in the development of the container sector and other types of traffic and that current and future conditions are present for working and competing in the free market.”