MSC Mediterranean Shipping Company S.A. (MSC) last week announced that Terminal Investments Limited (TIL) has acquired Global Infrastructure Partners' (GIP) 50% interest in International Trade Logistics (ITL).
International Trade Logistics is the largest container terminal and associated logistics business in Argentina. ITL has three business units:
Terminal Investments Limited (TIL) invests in, develops and manages container terminals around the world. It was founded in 2000 to secure berths and terminal capacity in the major ports used by MSC.
Diego Aponte, Vice President of MSC and Chairman of TIL, commented:
"We see the acquisition of ITL from GIP as a logical extension of our partnership with them in our global terminal business. Furthermore, the investment in Exolgan aligns with our strategy at MSC to acquire equity in key terminals so as to ensure the efficiency and capacity required for our global shipping network."
Adebayo Ogunlesi, Managing Partner of GIP, commented:
"We are very happy to have extended our relationship with the MSC Group through this sale of our interest in ITL to TIL. We are confident that Exolgan, which is the largest and most efficient terminal in Argentina, being capable of servicing two 10,000 TEU ships concurrently, will fit well within the TIL terminal portfolio and will, in the future, provide excellent service to MSC and its other customers."