London-listed Global Ports confirms takeover approach from MSC
The MSC Kalina shipping container is moored at Maersk APM Terminals Pacific at the Port of Los Angeles, U.S., Nov. 30, 2021. (AP Photo)


Global Ports Holding PLC GPH.L, the world's largest cruise port operator, said on Wednesday it had received an approach about a potential cash offer from Swiss-based MSC Mediterranean Shipping Company.

Shares of the London-listed company closed up 19% at 109 pence (134 cents) and marked their best day in two years after Global Ports confirmed a Bloomberg report that MSC was considering taking a controlling stake in Global Ports.

Global Ports, owned by Turkish businessperson Mehmet Kutman, said the talks were ongoing and the deadline for the container group to make a firm offer or walk away is July 13.

Global Ports, which has presence in the Caribbean, Mediterranean and Asia-Pacific regions, operates 26 cruise ports across 14 countries and also has a commercial port operation that specializes in container and general cargo handling.

Last month, Global Ports pointed to a strong rebound in cruise activity and said it expects occupancy levels to reach "historical levels" before the end of 2022 calendar year.