ICTSI makes cash offer for Portek

ICTSI Far East has announced a voluntary conditional cash offer for all issued and paid-up ordinary shares in Portek International, other than those already owned, controlled or agreed to be acquired by ICTSI.
 

Portek is a turnkey port services and solutions provider as well as an operator of container terminals and and multipurpose ports. ICTSI is an international operator of common user container terminals serving the global container shipping industry.

The acquisition of Portek is in line with ICTSI’s strategy to expand its existing network of port concessions, adding to its global network of 22 port terminals in seventeen countries.

The offer to purchase will be subject to, among other things, the receipt of valid acceptances.

Should ICTSI receive valid acceptances or acquire Offer Shares other than through valid acceptances amounting to no less than 90% of the total number of shares as at the close of the Offer, then ICTSI may exercise its right of compulsory acquisition of all of the shares, in which case Portek will become a wholly-owned subsidiary of ICTSI.

Quelle: eyefortransport
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