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International Container Terminal Services, Inc. has concluded the acquisition of an additional 10% stake in International Container Terminal Services Inc.-DR Congo (IDRC), increasing its stake to 62%
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ICTSI subsidiary ICTSI Africa B.V. completed acquisition of the additional 10% stake on May 25
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ICTSI earlier said part of its $250-million capital expenditures for 2021 would be spent on ongoing yard expansion of IDRC
International Container Terminal Services, Inc. (ICTSI) has concluded the acquisition of an additional 10% stake in International Container Terminal Services Inc.-DR Congo (IDRC), increasing its overall stake to 62%.
ICTSI Africa B.V. (IABV), a wholly owned subsidiary of ICTSI, concluded the acquisition of an additional 10% stake in IDRC on May 25, 2021, ICTSI said in a disclosure to the Philippine Stock Exchange.
The 10% was acquired from another shareholder, La Societe D’Investissement et de Placement SARL, increasing IABV’s ownership of IDRC from 52% to 62%.
ICTSI in January 2014 entered into a joint venture agreement with La Société De Gestion Immobilière Lengo to develop a container and general cargo terminal along the river bank of the Congo River in Mbengu, Matadi.
ICTSI earlier said part of its $250-million capital expenditure for 2021 would be spent on ongoing yard expansion of IDRC.
