International Container Terminal Services (ICTSI), the Philippine port terminal operator, has signed an agreement to acquire 100% of TLG Acquisition Holdings (TLG), a company providing port and cargo-handling services across Southern Africa. The transaction covers operations in Mozambique, South Africa, and Namibia, and will allow ICTSI to strengthen its presence in the region's port sector.
TLG maintains operations across all three countries, where it manages facilities for the handling and storage of various cargo types, including bulk commodities and agricultural products, playing a meaningful role in regional trade flows.
The acquisition will be made from entities managed by African Infrastructure Investment Managers (AIIM), an infrastructure investment manager that collectively holds a 74% stake in TLG, and from Mokobela Shataki Proprietary Limited, which owns the remaining 26%.
Although the agreement provides for the acquisition of 100% of TLG, its subsidiaries represent an effective economic interest of 97.33% in the business. The remaining 2.67% is held by members of the company's management team.
ICTSI did not disclose the financial terms of the transaction. Completion of the deal is subject to the fulfilment of conditions set out in the agreement, including the receipt of required regulatory approvals.
With this acquisition, ICTSI aims to deepen its presence on the African continent, where it already operates five terminals. These include the Onne Multipurpose Terminal in Nigeria, the Kribi Multipurpose Terminal in Cameroon, the Matadi Gateway Terminal in the Democratic Republic of Congo, and the Madagascar International Container Terminal in Madagascar.
In South Africa, the company operates the Durban Gateway Terminal, its most recent addition on the continent.
The acquisition of TLG will allow ICTSI to expand its Southern African footprint through operations in Mozambique, South Africa, and Namibia, complementing its existing activities in Nigeria, Cameroon, the Democratic Republic of Congo, and Madagascar.
Despite the signing of the agreement, the transaction has not yet been finalised. The transfer of 100% of TLG to ICTSI can only proceed once all stipulated conditions have been met and the necessary regulatory approvals obtained.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/2026/08/31/negocios/empresas/mocambique-esta-entre-os-paises-abrangidos-pela-aquisicao-de-100-de-empresa-portuaria-filipina/
