The MSC group controlled by Gianluigi Aponte has bought 49% of Moby, one of the most important shipping companies in Europe which operates the routes from Sardinia to Livorno and Civitavecchia. The remaining 51% of Moby remains in the hands of Vincenzo Onorato.
The details of the Msc-Moby operation
The MSC group, through its Luxembourg subsidiary Sas Shipping Agencies Services Sarl, formalized the entry into the capital of Moby with 49% following the conclusion of the recapitalization agreement announced in March 2022. The operation would have taken place in July. In recent days, the Luxembourg company SAS Shipping Agencies Services entered the share capital of Moby, of which it now holds practically half of the share capital which is 70,8 million euros.
The subsidiary of the MSC group, as part of the Moby rescue operation, has paid 82 million intended for the balance and excerpt with Tirrenia in extraordinary administration and further 68 million to enter the capital with the 49% package.
The remaining 51% of Moby's capital is controlled by Vincent Honored. In November, the Court of Milan had approved the composition with creditors of Moby and for the subsidiary Cin, thus opening up the financial restructuring of a debt of approximately 650 million euros.
MSC saves Moby from bankruptcy
“The Aponte family and the Onorato family are happy to announce that they have reached an agreement aimed at a capital increase in Moby Spa by the MSC group. This capital increase is aimed at settling Tirrenia in AS to allow the immediate recovery of the Moby group and in the interest of its 6.000 workers. The MSC group will enter Moby with a minority stake”, read a joint note dated March 24th.
MSC's willingness to inject liquidity and provide guarantees to creditors, especially in relation to the debt situation of "Tirrenia in extraordinary administration“, had made it possible to avoid bankruptcy and to reach an agreement with the Ministry of Economic Development.
Just yesterday, the president of MSC Aponte had announced the availability to reopen the Ita Airways game and the imminent closing on Italo.
