Mediterranean Shipping Co (MSC) is bidding to take over Brazilian shipowner and terminal operator Log-In Logistica Intermodal.

The Swiss liner giant has submitted an offer to buy up to 67% of the shares in a deal that values the Rio de Janeiro-based company at about $500m.

In a statement to the Sao Paulo Stock Exchange, Log-In said it had “accepted the conditions of the tender offer” presented to it by MSC.