Mediterranean Shipping Company (MSC) has announced that it is increasing its majority stake in Terminal Investment Ltd (TiL) to 60 per cent, following a deal with Global Infrastructure Partners (GIP) and other co-investors.
MSC welcomed a new partner to the shareholding of TiL after Global Investment Corporation, a Singaporean Sovereign Wealth Fund, acquired a 10 per cent stake in TiL from GIP and other existing co-investors, informed a release.
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 Mr Diego Aponte, who is President and CEO of MSC Group. The company is managed since 2018 by Chief Executive Officer Mr Ammar Kanaan, the release said.
