PortandTerminal.com, May 6, 2019
Singapore’s GIC has acquired a 10% interest Terminal Investment Limited (TIL) from Global Infrastructure Partners (GIP) and other existing co-investors for an undisclosed sum.
GIC, Singapore’s sovereign wealth fund, has acquired a 10% interest in Terminal Investment Limited (TIL), the sixth largest container terminal operator in the world, from Global Infrastructure Partners (GIP) and other existing co-investors.
TIL has a globally diversified portfolio that handles the container volumes of Mediterranean Shipping Company (MSC), the world’s second largest container shipping line, and other third parties including Maersk which is MSC’s 2M shipping alliance partner.
Ang Eng Seng, chief investment officer of infrastructure at GIC, said: “We expect TIL to be well-placed to benefit from the increasing demand for containerised goods as the global middle class and manufacturing outsourcing continue to expand. As a long-term investor, we look forward to partnering with MSC, TIL’s management and GIP to support the future growth of the company.”
TIL operates ports in the Americas, Europe, Asia (including Singapore), and Africa, with each region contributing roughly equally to revenue.
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