MSC withdraws bid for stake in Barcelona BEST terminal

MSC’s Terminal Investment Limited (TIL) has withdrawn its request for regulatory approval to acquire a 50% stake in Terminal Catalunya (Tercat) from Hutchison Ports. Tercat operates the Barcelona Europe South Terminal (BEST) at the Port of Barcelona. The proposed transaction had been submitted for review by the European Commission. However, TIL withdrew its application before the Commission reached a final decision. According to the information available, regulatory approval for the transaction had appeared unlikely.