MSC Mediterranean Shipping Company S.A. (“MSC”) has announced that TIL has acquired Global Infrastructure Partners’ (“GIP”) 50% interest in International Trade Logistics (“ITL”).
The ITL group includes Exolgan, the largest container terminal in Buenos Aires, and its associated logistics and warehousing activities.
Diego Aponte, Vice President of MSC and Chairman of TIL, commented: “We see the acquisition of ITL from GIP as a logical extension of our partnership with them in our global terminal business. Furthermore, the investment in Exolgan aligns with our strategy at MSC to acquire equity in key terminals so as to ensure the efficiency and capacity required for our global shipping network.”
Adebayo Ogunlesi, Managing Partner of GIP, commented: “We are very happy to have extended our relationship with the MSC Group through this sale of our interest in ITL to TIL. We are confident that Exolgan, which is the largest and most efficient terminal in Argentina, being capable of servicing two 10,000 TEU ships concurrently, will fit well within the TIL terminal portfolio and will, in the future, provide excellent service to MSC and its other customers.”
International Trade Logistics is the largest container terminal and associated logistics business in Argentina. ITL has three business units:
Exolgan – a four berth, seven super post panamax crane, 2.5 million TEU potential capacity container terminal which handled ca. 550k TEU in 2013;
Exologistica – a contract logistics business focused on the consumer products, industrial and petrochemical sectors and providing integrated solutions to Exolgan customers; and
LPI – a logistics warehousing business servicing Exologistica and third parties as well as Exolgan off terminal services.
ITL is jointly owned with PSA of Singapore.
Global Infrastructure Partners is an independent infrastructure investment fund with over US$19 billion under management. GIP invests worldwide in infrastructure assets and businesses in both the OECD and select emerging market countries. GIP targets investments in single assets, and portfolios of assets and companies in power and utilities, natural resources infrastructure, air transport infrastructure, seaports, freight railroad, water distribution and treatment and waste management. GIP has offices in New York, London and Colorado Springs, with an affiliate in Sydney and portfolio company operations headquarters in Stamford, Connecticut.
Terminal Investment Limited SA invests in, develops and manages container terminals around the world. It was founded in 2000 to secure berths and terminal capacity in the major ports used by MSC. Since then, TIL has grown to become one of the largest and most geographically diverse container terminal operators globally. TIL’s terminals have been selected for their important and strategic locations around the world, including major origin and destination and transhipment trade hubs and gateways in Europe, Asia, North America, South America and West Africa. For more information, visit www.tilgroup.com.