MSC’s Acquisition Of French Forwarder Clasquin

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  • MSC subsidiary Shipping Agencies Services (SAS) is set to acquire a 42% stake in French forwarder Clasquin Group, with plans for a complete takeover.
  • The agreement, valued at €325 million, follows exclusive negotiations and is supported by Clasquin’s CEO and management team.

Following exclusive negotiations initiated in late 2023, MSC’s subsidiary SAS has reached an agreement to acquire a 42% stake in Clasquin Group, a French forwarder. The acquisition is supported by Clasquin’s CEO and senior management.

Stake Acquisition and Valuation

SAS has offered slightly above market expectations, at just over €142 per share, valuing the stake at €325 million. The transaction involves shares held by chairman Yves Revol and private equity firm Olymp.

Future Plans and Regulatory Approval

Upon completion of the initial stake acquisition, SAS plans to file a public tender offer for the remaining Clasquin shares with the France financial markets authority (AMF). The company aims for a compulsory delisting if conditions permit, pending regulatory approval, expected by year-end.

Synergies and Potential Expansion

Post-acquisition, Clasquin intends to maintain its current management team and brands. Synergies with MSC’s subsidiaries, particularly in Africa, are anticipated. Clasquin’s strong presence and growth in Africa could complement MSC’s subsidiary Africa Global Logistics (AGL), offering an expanded international forwarding network.

Financial Performance and Outlook

Despite a 35.9% decrease in turnover to €562.1 million in 2023, Clasquin remains optimistic about its future. Net profit also declined by 16.2%, reflecting market normalization. The company’s focus on strategic acquisitions and synergies with MSC suggests promising growth prospects.

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Source: The Loadstar