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Singapore’s sovereign wealth fund GIC has acquired a 10 percent interest in Terminal Investment Limited (TIL) – the world’s sixth biggest container terminal operator – from Global Infrastructure Partners (GIP) and other co-investors.
TIL handles the container volumes of Mediterranean Shipping Company (MSC), the second largest container shipping line in the world, and other third parties such as Maersk, the 2M shipping alliance partner of MSC.
“We are pleased to invest in TIL, given its strong business alignment with its majority shareholder, MSC, and attractive growth potential from its pipeline of both existing and new terminals,” stated GIC chief investment officer of infrastructure Ang Eng Seng.
“We expect TIL to be well-placed to benefit from the increasing demand for containerized goods as the global middle class and manufacturing outsourcing continue to expand.”
Fiona Ho, Digital Content Manager at PropertyGuru, edited this story. To contact her about this or other stories, email fiona@propertyguru.com.sg
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