Swiss shipping firm MSC has moved forward with its deal to acquire international air and sea freight forwarder Clasquin.
MSC subsidiary SAS Shipping Agencies Services Sàrl has entered into a put option agreement for the acquisition of 42.06% of the share capital of Lyon, France-based Clasquin, said a press release issued by Clasquin.
Completion of the transaction, which will be subject to obtaining clearances from regulatory authorities is expected to happen by the end of this year.
SAS will then file a tender offer with the Autorité des Marchés Financiers (AMF) for the remaining shares in the capital of Clasquin, said the release.
According to its website, forwarder and logistics company Clasquin offers bespoke air cargo solutions for the transport of luxury and cosmetic products, clothing and fashion products, dangerous goods, perishables and pharma.
The overall company has been operating since 1959 and has a network of more than 85 offices and 1600 employees worldwide.
On its website, the company said it manages import and export flows, mainly between Western Europe and overseas, in particular Asia Pacific and North America.
Clasquin stated it has a network of 22 offices in Asia Pacific and more recently has also grown its business in the Middle East, as well as in northwest and sub-Saharan Africa.
MSC has grown its share in the airfreight market in recent years. The shipping company launched MSC Air Cargo in 2022, with a deal for US carrier Atlas Air to operate four new Boeing 777-200 freighters on a global ACMI (aircraft, crew, maintenance and insurance). The last of these freighters was delivered to Atlas in January.
In October last year, the company revealed more plans for MSC Air Cargo's network development in North America, Europe and Asia.
Earlier in the year, in August 2023, it acquired a majority stake in Milan-based airfreight carrier AlisCargo Airlines.
MSC also submitted a joint bid with German airline Lufthansa for a stake in Italian airline ITA Airways in 2022, but subsequently dropped out of the project.
MSC has also been growing its logistics business. SAS completed the acquisition of Bolloré Africa Logistics, now rebranded as Africa Global Logistics (AGL), at the end of 2022.
