MSC Hikes Stake in Terminal Investment
MSC Mediterranean Shipping Company, the world's second-largest shipping line in terms of container vessel capacity, SA announced that it is increasing its majority stake in the container terminal operator Terminal Investment Ltd (TiL) to 60%, following a deal with Global Infrastructure Partners (GIP) and other co-investors.
MSC also welcomes a new partner to the shareholding of TiL after Global Investment Corporation (GIP), a Singaporean Sovereign Wealth Fund, acquired a 10% stake in TiL from GIP and other existing co-investors.
New York-based GIP, a leading global, independent infrastructure fund manager, remains a significant shareholder.
TiL, which along with MSC is headquartered in Geneva, Switzerland, is one of the world’s largest and most geographically diverse container terminal investors.
As a terminal operator, TiL handles 34 million cargo moves a year for MSC and other shipping lines in 29 countries across five continents. It is present at 7 of the world’s 25 busiest ports – Antwerp, Singapore, Long Beach, Ningbo, Newark, Bremerhaven and Rotterdam.
TiL is overseen by Chairman Diego Aponte, who is President & CEO of MSC Group. The company is managed since 2018 by Chief Executive Officer Ammar Kanaan.