MSC Group-backed SAS completed the acquisition of Gram Car Carriers for $697m.

MSC Group-backed SAS Shipping Agencies Services, a marine logistics services provider, completed the acquisition of Gram Car Carriers, a seaborne vehicle transportation firm, for $697m. "Gram Car Carriers represents a proud history of more than 40 years of engagement in the global car shipping industry. Since the listing on Euronext in Oslo in 2022, the Company has successfully executed the long-term strategy by delivering safe and efficient operations for customers world-wide, rechartering the fleet in a historically strong market and completed accretive vessel transactions. This is reflected in significant value creation through increased cash generation, material share price appreciation and attractive quarterly dividend distributions. Today's voluntary offer by one of the world's leading maritime groups, is a validation of the unique position GCC has built as a leading car shipping tonnage provider and the long-term commitment put in by the entire team. The board is satisfied that the offer represents a fair valuation of GCC, as is also reflected in the recommendation to shareholders to accept the offer," Ivar Myklebust, Gram Car Carriers Chairman.