GIP pays nearly US$2 billion for 35% share in world’s sixth largest terminal operator
Mediterranean Shipping Company (MSC) has closed the sale of a 35 percent stake in Terminal Investment Limited (TIL), the world’s sixth largest container terminal operator, to Global Infrastructure Partners (GIP) and a group of its LP Co-Investors.
The agreement, worth as much as $1.929 billion, was first announced in April but has now received all the relevant approvals.
“We’re extremely pleased to have joined forces with GIP, one of the largest and most experienced infrastructure funds,” said MSC vice president Diego Aponte when the share acquisition was made public last month.
“Through this partnership we are reinforcing our terminal division, which will enable us to capitalise on future opportunities and growth,” he added.
TIL has, or is in the process of acquiring, controlling or joint-controlling interests in 30 container terminals globally serving North and South America, Europe, Africa, the Middle East and Asia.
GIP will play an active role with Alistair Baillie joining TIL as President.