BUENOS AIRES, ARGENTINA, Aug. 21, 2014 (GLOBE NEWSWIRE) -- MSC Mediterranean Shipping Company S.A. ("MSC") today 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."
Notes to Editors:
About International Trade Logistics
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.
For more information, visit www.itl.com.ar
About MSC Mediterranean Shipping Company S.A.
MSC Mediterranean Shipping Company S.A. of Geneva, Switzerland, is a privately owned shipping line, founded in 1970, which has rapidly grown to become the number two global container shipping line. During recent years MSC's maritime fleet has expanded substantially and currently stands at 466 container vessels with an intake capacity of ca 2.4 million TEUs. For more information, visit www.mscgva.ch.
About Global Infrastructure Partners
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 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. For more information, visit www.global-infra.com.
About Terminal Investment Limited SA
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.
Global Infrastructure Partners
Mr. Jack Cowell
Tel: +1 212 315 8133
Mobile: +1 917 405 0717
MSC Mediterranean Shipping Company S.A.
Mr. Lawrence Matthews
Tel: +41 22 703 8270
Mr. Joe Cook
Tel: +44 1473 278826
International Trade Logistics
Mr Alistair Baillie
MSC Chairman, TIL
Chairman and Managing Partner,
Global Infrastructure Partners
Photos accompanying this release are available at:
CONTACT: Global Infrastructure Partners Mr. Jack Cowell Tel: +1 212 315 8133 Mobile: +1 917 405 0717 email@example.com
Source:Global Infrastructure Partners