The founder of the MSC group wants 50% of Italo
Gianluigi Aponte, founder of the MSC group, attempts the lunge on Italo. Repubblica writes it today, which explains that “after a pressing that has lasted for over six months he managed to convince the first shareholder of Ntv – the Anglo-American fund Gip which controls 72.6% – to grant him an exclusivity for the sale of two months, until the end of August. After reviewing the accounts in the data room, Aponte will have to say which share he intends to take over and at what price. If these two variables are considered acceptable by the sellers, we will go directly to the closing of the operation”.
As told by the Republicthe MSC, a company based in Geneva that operates in the sectors of maritime transport, cruises and port logistics, is serious about diversifying its business into land transport as well, with the aim of building a leading integrated group in the Mediterranean area. He does not lack the liquidity to make acquisitions, given the strong recovery in transport activity following the pandemic, which for more than a year has skyrocketed freight costs and extended delivery times.
On the price front, Repubblica explains that “NTV has around 700 million in debt but with around 340 million in ebitda in 2023 it can handle further leverage. By calculating a multiple of 13-14 typical of infrastructure companies, the total enterprise value could reach 4.7-4.8 billion, double what it was five years ago”.
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