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International Container Terminal Services, Inc. signed an agreement to acquire 100% ownership of TLG Acquisition Holdings (RF) Proprietary Ltd., a port operator in strategic African countries
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ICTSI signed the agreement for the sale and purchase of 100% of the shares of TLG with African Infrastructure Investment Managers, IDEAS Infrastructure II GP Proprietary Ltd., and Mokobela Shataki Proprietary Ltd.,
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TLG is an integrated port and cargo handling services provider with operations across Mozambique, Namibia, and South Africa
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Completion of the transaction is subject to certain conditions, including regulatory approvals
International Container Terminal Services, Inc. (ICTSI) has signed an agreement to acquire 100% ownership of TLG Acquisition Holdings (RF) Proprietary Ltd. (TLG), a port operator in strategic African countries.
ICTSI signed the agreement for the sale and purchase of 100% of the shares of TLG with African Infrastructure Investment Managers (AIIM), acting through AIIF4 General Partner Proprietary Ltd. and IDEAS Infrastructure II GP Proprietary Ltd., which collectively own 74% of TLG, and Mokobela Shataki Proprietary Ltd., which owns the remaining 26%, the port operator said in a regulatory disclosure on August 28.
TLG is an integrated port and cargo handling services provider with operations across Mozambique, Namibia, and South Africa. The business handles a diversified range of bulk commodities and agricultural products across its portfolio of port facilities.
Completion of the transaction is subject to certain conditions precedent, including applicable regulatory approvals.
ICTSI currently manages five terminals in Africa: Onne Multipurpose Terminal in Nigeria, Kribi Multipurpose Terminal in Cameroon, Matadi Gateway Terminal in D.R. Congo, Madagascar International Container Terminal, and the newest – Durban Gateway Terminal in South Africa.
