MSC increases its stake in Terminal Investment Ltd (TIL)
MSC Mediterranean Shipping Company SA has increased its majority stake in Terminal Investment Ltd (TIL) to 60%, following a deal with Global Infrastructure Partners (GIP) and other co-investors.
MSC also welcomes a new partner to the shareholding of TIL after Global Investment Corporation, a Singaporean Sovereign Wealth Fund, acquired a 10% stake in TIL from GIP and other existing co-investors. GIP, a leading global, independent infrastructure fund manager, remains a significant shareholder.
TIL, which along with MSC is headquartered in Geneva, Switzerland, is one of the world’s largest and most geographically diverse container terminal investors. As a terminal operator, TIL handles 34 million cargo moves a year for MSC and other shipping lines in 29 countries across five continents. It is present at 7 of the world’s 25 busiest ports – Antwerp, Singapore, Long Beach, Ningbo, Newark, Bremerhaven and Rotterdam.
TIL is overseen by Chairman Diego Aponte, who is President & CEO of MSC Group. The company is managed since 2018 by Chief Executive Officer Ammar Kanaan.