MSC is expanding its operations into vehicle maritime transport through Shipping Agencies Services. The subsidiary has proposed to purchase Gram Car Carriers at a price of 263.69 Norwegian Krone (approximately 22.43 euros) per share. This offer represents a 28.3% premium over the stock's price as of April 23, 2024. The Norwegian company announced on April 24, 2024, that its Board of Directors unanimously recommended shareholders accept the offer.
Significantly, 54.54% of Gram Car Carriers' shares are held by five entities: F. Laeisz, AL Maritime, Glenrinnes Farms, HM Gram Investment, and HM Gram Enterprises. These shareholders have given irrevocable commitments to accept the bid. Gram Car Carriers also stated that the acquirer intends to continue operations "under the same name and organization and to keep providing the same quality of service to customers without interruption."
Gram Car Carriers operates a fleet of twenty-two car carriers, with eighteen owned and four managed vessels. The company also transports vehicles in containers, an operation that complements MSC’s existing services well. The fleet includes three vessels for distribution (up to 2,000 vehicles), eleven medium-sized vessels (up to 5,000 vehicles), and eight Panamax vessels (up to 7,000 vehicles). This move places MSC alongside other container carriers like CMA CGM and HMM, which have already ventured into the vehicle transport sector.
