ICTSI Completes PhP10B Acquisition of Rio Port

International Container Terminal Services Inc. (PSE: ICT) said Monday wholly-owned subsidiary ICTSI Americas B.V. acquired 100-percent of the shares of concession holder of a container terminal in Rio de Janeiro City in Brazil for PhP10 billion. 

ICTSI said in a disclosure to the stock exchange it signed a share purchase agreement with Boreal Empreendimentos e Participações S.A. to acquire 100 percent of the shares of Libra Terminal Rio S.A., which holds the concession rights to operate, manage and develop the container terminal Terminal de Contêineres 1 in Rio de Janeiro.

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