According to multiple media reports, the world's largest shipping company, Mediterranean Shipping (MSC), has recently started acquiring Norwegian car transport company Gram Car Carriers (GCC).

According to reports, SAS Shipping Agency Services, a subsidiary of MSC, has made a tender offer to GCC to acquire all shares of GCC for a total price of 7.643 billion Norwegian kroner (approximately 700 million US dollars).

This acquisition aims to expand MSC's business in the automotive transportation market.

GCC is the third largest independent car transport vessel (PCTC) carrier in the world, currently operating a total of 22 PCTCs, of which 18 are self owned vessels and 4 are managed by third-party companies.

According to reports, GCC shareholders will decide whether to proceed with the acquisition offer of MSC subsidiary SAS. At present, GCC's board of directors has unanimously decided to recommend that shareholders accept the offer.

The latest news shows that GCC's major shareholders F Laeisz, AL Maritime, Glenrinnes Farms, HM Gram Investment, and HM Gram Enterprises (with a total shareholding of approximately 54.5%) have accepted the acquisition offer.

This transaction is yet to be approved by regulatory authorities and is expected to be completed in the third quarter of this year, no later than the fourth quarter.