Deloitte to do due diligence in Renfe-MSC deal
The Spanish national rail freight operator Renfe Mercancias has chosen Deloitte to carry out the due diligence on Medway. MSC’s subsidiary will be taking over 50 per cent of state-owned company’s shares.
The contract is worth 386,595 euros and the process should take roughly five months. Throughout this period, Deloite will analyse financial, fiscal, legal and labour aspects of Medway and its branches. The Medway-Renfe Mercancias deal was announced in September 2023.
The state-owned company spent over a year looking for a private partner to improve its operations and finances. MSC and its rail freight arm won against other big names in the industry including Maersk and CMA CGM. Despite official numbers are not available, Spanish media claim the operation will cost MSC around 200 million euros.
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