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MSC mulls Singapore ports unit listing

MSC mulls Singapore ports unit listing
Singapore: Switzerland-headquartered Mediterranean Shipping Company (MSC) is eyeing a listing in Singapore for its global ports business, reports said.

The listing, which could be in the form of a corporate IPO or a business trust, is estimated to raise $1bn, but the plan is still at the early stage, Reuters reported. BNP Paribas, CLSA and Deutsche Bank have been appointed to manage the deal.

MSC is primarily a shipping company but it also owns and manages several ports. The ports arm has terminals in Antwerp, Bremerhaven, Le Havre, Bilbao, La Spezia, Ningbo and Singapore.

TAGS: Singapore