Medlog, a subsidiary of the world’s leading container shipping company Mediterranean Shipping Company (MSC Group), has acquired 50% of intermodal logistics operator N’UNIT and a 25% stake in the Mostyska cross-border terminal from TIS co-owner Yegor Grebennikov, Forbes reported.
“Medlog has acquired half of my stake in the Mostyska cross-border terminal and half of N’UNIT, which was wholly owned by me,” Grebennikov said in an interview with the publication.
His stake in N’UNIT has decreased to 50%, and in the Mostyska terminal to 25%. The remaining 50% of the terminal remains owned by Lemtrans.
“Medlog was looking for a ready-made network of dry logistics railways, which will gradually replace road transport — this is a trend. In addition, it provides more flexibility at a time when ports are not functioning. Building such a network now would cost as much as buying it, but it would take three to four years,” Grebennikov said.
According to him, Medlog has a strategy for the next decade and understands that those who take risks and enter the country at a difficult time will be better prepared for the period of economic growth.
“And, of course, during a period of growth, the price would be completely different,” said the co-owner of N’UNIT and the Mostyska terminal.
He also said that prior to the deal, he was the sole owner of N’UNIT, as his partners Andriy Stavnitzer and Oleg Kutateladze decided to focus on their personal projects in other industries.
Following the deal with MSC Group’s subsidiary, the company plans to build several more regional terminals.
“I have a clear investment plan. We have already carried out preparatory work for the construction of new terminals, there will be more specialized lightweight vehicles for last mile delivery, more buffer warehouses. We hope to take our cooperation with Ukrzaliznytsia to a new level,” said Grebennikov.
Medlog, founded in 1988 as a subsidiary of MSC Group, specializes in intermodal transportation (rail, road, sea, and river freight), warehousing, and customs clearance. The company is represented in more than 80 countries and has over 10,000 employees.
