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International Container Terminal Services, Inc. increased its ownership in Inhaúma Fundo De Investimento Imobiliário – FII, which has rights over a marine property in Rio de Janeiro
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Through wholly owned subsidiary B.V., ICTSI acquired an additional 26% interest in FII Inhaúma, increasing its ownership to 73%
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FII Inhaúma has perpetual rights in a property that has approximately 32 hectares of inactive shipyard called Estaleiro Inhaúma
International Container Terminal Services, Inc. (ICTSI) increased its ownership in Inhaúma Fundo De Investimento Imobiliário – FII (FII Inhaúma), which has perpetual rights over a marine property in Rio de Janeiro, Brazil.
Through wholly owned subsidiary ICTSI Americas B.V., ICTSI acquired an additional 26% interest in FII Inhaúma, raising its ownership to 73%, the ports operator said in a regulatory disclosure on July 23.
ICTSI last April said ICTSI Americas acquired a 47% interest in FII Inhaúma, which has perpetual rights in a property that has approximately 32 hectares of inactive shipyard called Estaleiro Inhaúma.
READ: ICTSI buys into Rio property for Brazil port expansion
The property, which is adjacent to ICTSI Rio Brazil, will be used in the immediate future as additional capacity for the terminal’s existing operations. ICTSI also intends to develop a future private use terminal in the property.
ICTSI said all corporate and regulatory approvals for the acquisition have been obtained. The total consideration, which is less than 10% of ICTSI’s total consolidated shareholders’ equity as of December 31, 2024, was negotiated and paid in cash. The transaction is not deemed to have a material impact on the company’s financials in the immediate future.
“The acquisition of this property represents an investment opportunity for ICTSI for the development of the area and, thus, potential expansion of the total operational and logistics capacity of the port region of Rio de Janeiro,” the ports operator said.
ICTSI earlier said part of its estimated capital expenditures of approximately $580 million for 2025 will be utilized for new expansion projects at ICTSI Rio.
ICTSI Rio operates the Container Terminal 1 at the Port of Rio de Janeiro and serves the import, export, and industrial oil and gas hubs in the largest economic region of Brazil.
