Banca Carige and Messina Group announced they have reached a final agreement on the terms of the debt renegotiation which sees active role of MSC group as a new partner.
The Genoa-based shipping company has a financial exposure of over €450m ($515m), mainly with Banca Carige, related to the fleet renovation plan completed in the last few years with 8 new con-ro ships built in South Korea by Daewoo and STX shipyards from 2011 to 2015.
Sources tell Splash that according to the agreement, due to be formally closed in the coming months after final approval from antitrust authorities, MSC will invest €25m ($28.5m) for a 49% stake of the Ignazio Messina & C. Group and a 52% stake in a new vehicle controlling four of the eight modern con-ro ships.
More specifically the units set to be 52% controlled by MSC will be Jolly Diamante, Jolly Perla, Jolly Titanio and Jolly Cobalto.
Besides the fresh capital Gianluigi Aponte will put into the Genoa-based shipping company, the Messina family will put €5m on the table to re-launch the business, which will see ongoing synergies between the Italian and the Swiss firms.