The takeover of the car carrier shipping company Gram Carriers (GCC) by the MSC subsidiary SAS Shipping Agency Services has been completed.
GCC will no longer be listed on the stock exchange. However, the brand will be retained.
MSC buys Gram Car Carriers for almost €700m
MSC has acquired over 90% of the Norwegian shipping company through its subsidiary SAS. The purchase price of the approximately 28.35 million shares was NOK 263.69 per share, which corresponds to a total of € 696m. 300,000 shares remain with Gram Car Carriers itself.
As a result of the takeover, both companies announced that GCC will be withdrawing from the New York Stock Exchange. Until now, the third-largest tonnage provider in the pure car truck carrier sector was listed there under “GCCRF”. The company has so far disclosed its share price performance, dividends and more on its own website. The withdrawal will take effect on 25 July.
Gram Car Carriers will remain a brand under SAS. The shipping company operates 17 ships in the feeder, midsize and Panamax segments.
