The sale of Brazilian port and maritime logistics operator Wilson Sons is pressing ahead.
The company revealed receiving a letter from I Squared Capital expressing interest in a potential voluntary offer to acquire up to 100% of the company.
The Miami-based infrastructure investor has not yet indicated a price per share but will decide whether to proceed with the offer within the next 15 days, Wilson Sons noted.
The majority shareholder Ocean Wilsons Holdings said in separate filing discussions with I Squared, first confirmed in August, had been “interrupted” to explore the terms of a potential transaction involving the acquisition of its stake in Wilson Sons.
The London-listed Bermudian investment firm also revealed ongoing negotiations with another potential buyer for its stake in the port logistics company but highlighted that there can be no certainty that a deal will be reached. While the name remains undisclosed, the interested party could be Swiss-based liner giant Mediterranean Shipping Co (MSC).
Ocean Wilsons owns 57% of Wilson Sons. The company operates the Tecon Rio Grande container terminal in Rio Grande, Rio Grande do Sul, and the Tecon Salvador container terminal in Salvador, Bahia and renders commercial representation on behalf of shipowners in the main ports of Brazil.
Wilson Sons operates one of the largest tugboat fleets in Latin America with over 70 vessels and has a platform supply vessel joint venture with Chilean group Ultramar. The company also provides integrated logistics solutions and at the shipyard in Guaruja, Sao Paulo, Wilson Sons builds and maintains its offshore and towage fleets, as well as offering small and medium vessel construction for third parties.