German asset and investment manager MPC Münchmeyer Petersen Capital AG (MPC Capital) has increased its shareholding in Oslo-listed MPC Container Ships ASA (MPCC) from around 7% to around 14%.
The transaction is carried out by way of increasing MPC Capital’s shareholding in MPC CSI GmbH (MPC CSI), which was established in 2017 as a joint investment vehicle for the IPO of MPCC under the leadership of MPC Capital and MPC Münchmeyer Petersen & Co. GmbH, the founder and largest shareholder of MPC Capital.
The purchase price for the acquisition of the shares from the selling shareholders of MPC CSI is approximately €34 million (US$37 million) and is based on a net price per MPCC share of NOK 13.60 (US$1.31). Following the transaction, MPC CSI will own around 17% of MPCC’s shares, of which around 14% will be held by MPC Capital.
With a fleet of 62 vessels, MPCC is one of the world’s largest owners of container ships for intraregional trades. In the 2023 financial year, the company reported operating revenues of US$711 million and earnings per share of US$0.73. The dividend yield in 2023 was 43%.
MPC Capital is increasing its earnings forecast for 2024 and now expects earnings before taxes to be slightly above the already high level of €19.3 million (US$21 million) in the 2023 financial year.
