Doha: News that leading containerline Mediterranean Shipping Co is selling a 35% stake in its Terminal Investment Limited division to Global Infrastructure Partners has a limited impact in the Middle East.
GIP is paying up to $1.929bn for the stake, with the deal expected to be concluded in the middle of the year.
Of MSC’s 30-odd terminals that it has invested in, just one is in the Middle East, the Port of the Red Sea in the new Saudi metropolis, King Abdullah Economic City.
MSC’s move follows a similar transaction by another giant CMA-CGM which sold a tranche of its terminal business to China Merchants (International) Holdings recently. [02/04/13]
