MSC to sell 35% of its container terminal business

Mediterranean Shipping Company (MSC) has agreed to sell 35% of Terminal Investment Limited (TIL) to Global Infrastructure Partners (GIP) for a consideration of US$ 1.929bn, the company announced earlier this week
The new strategic partnership between MSC and GIP will provide a “strong foundation” to support the next phase of TIL’s growth, including further acquisitions and investments, says Diego Aponte, vice president of MSC.
TIL has, or is in the process of acquiring, controlling or joint-controlling interests in 30 container terminals located across the globe, including Europe, Africa, North and South America and the Middle East.
Closing of the sale is expected to take place in the middle of the year and is subject to relevant approvals.