Connect with us

Hi, what are you looking for?


ICTSI unit agrees to acquire Marubeni’s stake in Bauan port


LISTED port operator International Container Terminal Services, Inc. (ICTSI) on Tuesday said its subsidiary signed an agreement to buy the ownership interest and subscription rights of Japan-based Marubeni Corp. in Bauan International Port, Inc.

In a disclosure to the stock exchange, ICTSI said its unit IWI Container Terminal Holdings, Inc. (IWICTHI) signed the share purchase agreement for Marubeni’s 20% stake in the Bauan port on Dec. 23.

IWICTHI is buying the 2.05 million shares for around P507.41 million. 

Bauan International Port is the operator of the Bauan terminal, which supports cargo movements in and out of the Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon) region.

ICTSI is involved in 34 terminal concessions and port development projects in 20 countries. In the Philippines, it operates nine terminals, which include an inland container terminal, a barge terminal, and combined terminal operations in Subic.

Established in 1987, ICTSI operates, manages and develops the Manila International Container Terminal, which handles international container cargo at the Manila port. 

At the local bourse on Tuesday, shares in ICTSI declined by P4 or 1.96% to close at P200 each. — Ashley Erika O. Jose

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!


Editor’s Pick

<?xml encoding=”utf-8″ ??> Ava Whetstone-Magee, the founder of Avalanche Equestrian talks about the lightbulb moment which led her to start her business at the age...

Editor’s Pick

<?xml encoding=”utf-8″ ??> The exodus of workers from the jobs market over the pandemic has weakened prospects for Britain’s economic growth, the governor of...

Editor’s Pick

<?xml encoding=”utf-8″ ??> Will Polston, talks to Business Matters about how helping ambitious owners to maximise their potential has resulted in him becoming a finalist...


Elon Musk talks about his company’s Starlink project at the Mobile World Congress, Barcelona, Spain, June 30, 2021. — BRISA PALOMAR / PACIFIC PRESS/SIPA...


PHILSTAR FILE PHOTO The National Economic and Development Authority (NEDA) has approved seven “high-impact” projects, ranging from agriculture to transportation, the agency’s top official...


Television (TV) advertising is shifting toward addressable TV, a service that allows advertisers to show different ads to different audiences watching the same program,...

You May Also Like


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.