GIP, MSC close $1.93bn port deal

Global Infrastructure Partners made good on its April deal for Terminal Investment Limited.

Global Infrastructure Partners (GIP) finalised a deal involving container terminal operator Terminal Investment Limited (TIL), according to a recent press release.

Fund manager GIP in April paid MSC Mediterranean Shipping Company $1.93 billion in exchange for 35 percent of TIL. Incorporated in 2000, Terminal Investment is the terminal operator for shipping line MSC, commissioned in North and South America, Europe, the Middle East and Asia.

For Global Infrastructure Partners, TIL marked the latest addition to its seaport business. GIP, with PSA International, has an interest in International Trade Logistics (ITL), a port business in Argentina.

GIP is a member of a consortium in charge of the Port of Brisbane in Australia and is also full owner of the Great Yarmouth Port Company.

The fund manager said its purchase of ownership in TIL met regulatory approval.

Located in London and New York, Global Infrastructure Partners has $15 billion under management.