Reshuffle of TIL's shareholders
The ranking of investors of the terminal operator Terminal Investment Ltd (TIL) has changed. The major shareholder, MSC Mediterranean Shipping Company is increasing its majority stake to 60%, following a deal with Global Infrastructure Partners and other co-investors.
As a new partner to the shareholding of TIL, Global Investment Corporation, a Singaporean sovereign wealth fund, acquired a 10% stake in TIL from GIP and other existing co-investors. GIP, a US-based infrastructure fund manager, remains a significant shareholder.
TIL, which along with MSC is headquartered in Geneva (Switzerland), handles 34 million cargo moves a year in 29 countries across five continents. It is present at seven of the world’s 25 busiest ports – Antwerp, Singapore, Long Beach, Ningbo, Newark, Bremerhaven and Rotterdam. (kd)