Global ports giant International Container Terminal Services Inc. (ICTSI) is seeking to strengthen its foothold in Africa with a deal to acquire a port and cargo operator serving three key markets in the region.
In a disclosure on Friday, the Enrique Razon Jr.-led company said it had signed an agreement to acquire 100 percent of TLG Acquisition Holdings Proprietary Ltd., an integrated port and cargo handling services provider with operations across Mozambique, Namibia and South Africa.
The seller
ICTSI is acquiring TLG from African Infrastructure Investment Managers (AIIM) and Mokobela Shataki Proprietary Ltd.
AIIM, through AIIF4 General Partner Proprietary Ltd. and IDEAS Infrastructure II GP Proprietary Ltd., collectively owns 74 percent of TLG, while Mokobela Shataki holds the remaining 26 percent.
ICTSI did not disclose the value of the transaction, which remains subject to regulatory approvals.
In purchasing TLG, ICTSI is acquiring a business that provides port and cargo handling services for a diversified range of bulk commodities and agricultural products across its portfolio of facilities in the three African markets.
Growth mode
The deal will further expand ICTSI’s presence in Africa, where the port operator already has operations in several markets.
ICTSI operates the Onne Multipurpose Terminal in Nigeria, Kribi Multipurpose Terminal in Cameroon, Matadi Gateway Terminal in the Democratic Republic of Congo and Madagascar International Container Terminal.
In December 2025, it also secured a deal to operate a terminal at South Africa’s largest port, the Durban Container Terminal Pier 2 at the Port of Durban, now its largest operation in the region. It holds a 25-year term under a joint venture with Transnet SOC Ltd., a South African state-owned company that owns railway, port and pipeline infrastructure.
ICTSI operates 30 terminals across 19 countries in Asia-Pacific, the Americas, Europe, the Middle East and Africa
In the first half, the company posted a 22-percent increase in net income to $641.39 million as revenue from port operations grew 27 percent to $1.92 billion.