ICTSI Unit to Sell 51% Stake in China Terminal for P6.77 Billion - BusinessWorld Online

ICTSI exits China’s Yantai port terminal

MANILA, Philippines – Tycoon Enrique Razon Jr.’s International Container Terminal Services, Inc. (ICTSI) is exiting its port venture in China after 20 years, selling its controlling stake in Yantai International Container Terminal Ltd. (YICTL) for about $112 million. In a disclosure to the local bourse on Monday, the global ports operator said its wholly owned […]...Keep on reading: ICTSI exits China’s Yantai port terminal

ICTSI unit to sell 51% stake in China terminal for P6.77 billion - BusinessWorld Online

RAZON-LED International Container Terminal Services, Inc. (ICTSI) said its unit is divesting its stake in Yantai International Container Terminals Ltd. (YICTL) for 773.21 million renminbi, or about P6.77 billion. In a regulatory filing on Monday, ICTSI said its wholly owned subsidiary, ICTSI Hong Kong Ltd., had signed an agreement with Yantai Port Holdings Co. Ltd. for the sale of its 51% equity interest in YICTL. YICTL is a joint venture in whi…