London-listed Bermuda investment company Ocean Wilsons has sold off its Brazilian arm to Mediterranean Shipping Company (MSC) for 4.32bn Brazilian real (£590m). Wilson Sons, which is currently one of the largest port and maritime logistics operators in Brazil,

A primary asset of a Bermuda investment holding company is selling its majority stake in the largest integrated port and maritime logistics operator in Brazil. Ocean Wilsons subsidiary, OW Overseas

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Ocean Wilsons announced on Monday that its subsidiary OW Overseas Investments has agreed to sell its 56.47% stake in Brazilian port operator Wilson Sons to SAS Shipping Agencies Services, a subsidiary of MSC Mediterranean Shipping Company.

The Bermuda-based investment holding company said the sale of the 56.47% stake is to SAS Shipping Agencies Services Sarl, a subsidiary of MSC Mediterranean Shipping Co SA. The sale was for BRL4.35 billion, around USD768 million.

The transaction will see Ocean Wilsons bring in more than its entire market cap in cash, as it is currently valued at £528m by the London Stock Exchange. It is expected to complete during the second half of next year.