The board of Brazil's Log-In Logistica Intermodal has approved a takeover by Mediterranean Shipping Co (MSC).

In a statement to the Sao Paulo Stock Exchange, the shipowner and terminal plater said the board had accepted the voluntary tender offer for the acquisition of the company.

The takeover still has to be approved by the Brazilian antitrust authorities.

But the country's competition watchdog, CADE, has already granted MSC "certain political rights", Log-In said.