Shanghai: 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 Southeast Asia. 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 Southeast Asia, MSC PSA Asia terminal in Singapore.
“Through this partnership, we are reinforcing our terminal division, which will enable us to capitalise on future opportunities and growth,” said Diego Aponte, vice president of MSC, in a written statement.
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]
