MSC is selling 35% of Terminal Investment Ltd (TIL) to Global Infrastructure Partners (GIP) and a group of its LP Co-Investors. The sale price of $1.93bn includes some payments related to future performance of the business.
TIL is currently the world’s sixth largest terminal operator, and has or is the process of acquiring controlling interests in 30 container terminals globally.
The terminals are located in North and South America, Europe, Africa, the Middle East and Asia.
“We’re extremely pleased to have joined forces with GIP, one of the largest and most experienced infrastructure funds. Through this partnership we are reinforcing our terminal division, which will enable us to capitalize on future opportunities and growth. This will complement MSC’s strategy to maintain a leading position in the industry,” said Diego Aponte, vice president of MSC. Geneva-headquartered MSC is the world’s second largest container line.
GIP is to play an active role in the joint venture with Alistair Baillie joining as president.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited. Add Seatrade Maritime News to your Google News feed.