MSC’s Terminal Company Withdraws Antitrust Review for Barcelona Acquisition
MSCs’ terminal operating company, TiL (Terminal Investment Limited), withdrew its application last week for an EU antitrust review for its proposed acquisition in Barcelona. Last year, the company agreed to the acquisition of the Barcelona Europe South Terminal (BEST) operated Terminal Catalunya in Barcelona, which is a division of CK Hutchison.
There was no explanation why the application was withdrawn, just a brief status note as of August 3 on the case, which was under review by the European Commission. The competition authority had been notified of the proposed acquisition at the beginning of November 2025 and reported that it found in a preliminary examination that it could fall within the scope of the European Commission’s Merger Regulation.
It was highlighted that the terminal is one of the main deep-sea gateways for cargo to Barcelona and Spain. Opened in 2012, the terminal is part of the port’s larger operations, which also include bulk cargo and vehicles. Hutchison BEST recently highlighted that the terminal has tripled its volume since 2013, reaching close to 2.8 million TEUs in 2025 and consolidating its position as a key Mediterranean gateway for international trade. This growth translates into high operational activity, with more than 1,200 vessels handled in a single year and a strong commitment to rail transport, reinforcing its role as a benchmark logistics node. It further reported that the terminal had exceeded its initial forecasts, reaching €876 million in investment — 32 percent above the expected figure — driving automation, digitalization, and sustainability projects that strengthen its long-term competitiveness.
The European Commission in December 2025 reported that it was proceeding with an in-depth investigation into the proposed acquisition of TERCAT, noting that MSC already had significant operations in the port of Barcelona.
The Commission said it had preliminary concerns that the transaction could lead to higher prices or reduced quality of container terminal services at the port of Barcelona. It said the investigation would consider the potential for significantly reduced competition for container services in Barcelona and the potential impact on shipping companies competing with MSC.
The Commission speculated that the merged entity could provide preferential treatment to MSC for the use of BEST’s container terminal services. They said this could take the form of higher prices, late access to the berth, or the limited availability of cranes and storage space for MSC’s competitors. They said competitors would also have a limited possibility to switch to the other deep-sea container terminal in the port of Barcelona, Terminal de Contenedores de Barcelona.
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Under the European regulations, the Commission had until the end of April to reach a decision. However, that could be postponed as it sought information or other input.
The acquisition was separate from the larger deal that TiL and BlackRock were negotiating with CK Hutchison for the acquisition of its international terminal portfolio. The larger deal ran into roadblocks due to Chinese opposition, and while there is still interest, so far, a revised deal that might carve up the Hutchison portfolio, with a portion going to COSCO, has reportedly been discussed, but no agreement was announced. It was also further complicated by Panama’s moves in February that voided Hutchison’s concession for the two ports in Panama, which were a separate element of the larger transaction.
