SWITZERLAND-HEADQUARTERED liner giant Mediterranean Shipping Co (MSC) has struck a deal via its subsidiary Shipping Agencies Services (SAS) to acquire a 42 per cent stake in Paris-listed air and sea freight forwarding and logistics specialist Clasquin.

Under the agreement, SAS will pick up the shareholding currently held by Clasquin chairman Yves Revol and Lyon-based private equity firm Olymp, with plans to buy the remaining stock on the market should conditions be met after the closing, reports Singapore's Splash 247.

SAS has offered just over EUR142 per share (US$154), which represents a 60 per cent premium to Clasquin's stock price before MSC's first approach in December and a further 13.17 per cent premium to the current market price.

The deal is backed by Clasquin's chief executive and senior management team, who have also undertaken to tender their shares in the takeover bid, corresponding to about 8.5 per cent stake.

The company is expected to continue to operate under its current management and name after the acquisition, which is estimated to close by the end of the year.

Similarly to other major players in the sector, the world's largest containerline, MSC, has made a series of acquisitions in logistics, backed by profits made during container shipping's boom years, most notably the $6.3 billion deal for Bollore Africa Logistics, now known as Africa Global Logistics (AGL).