New York, USA (Ports Europe) January 26, 2024 – Earlier this month, BlackRock, Inc. agreed to acquire Global Infrastructure Partners (GIP), a leading independent infrastructure fund manager, for a total consideration of $3 billion of cash and approximately 12 million shares of BlackRock common stock. GIP assets will see some port terminal changes.
GIP owns 30-40% of Terminal Investment Limited (TiL), a global container terminals group, in turn controlled by MSC Mediterranean Shipping Company S.A . Til has interests in:
- Antwerp – a joint venture between PSA and TiL
- Le Havre – Terminaux de Normandie
- MSC Terminal Valencia
MSC also has other terminal interests such as Trieste Marine Terminal srl (TMT), the concessionaire of the container terminal in the port of Trieste. In November 2022, international shipping and logistics company MSC acquired an 80% stake in TMT. MSC previously held 50% of the shares and has purchased a further 30% from T.O. Delta to now control TMT. The acquisition was made via MSC subsidiary Terminal Investment Ltd Sàrl (TIL).
It is also purchasing 50% of the Hutchison BEST terminal in Barcelona.
BlackRock’s acquisition makes it a new player in the European port terminal business.
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