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ICTSI expansion spree attracts investors

ICTSI expansion spree attracts investors
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Philippine Tycoon Enrique Razon Consolidates Manila Port Interest Into ICTSI | Hellenic Shipping News Worldwide

Philippine Tycoon Enrique Razon Consolidates Manila Port Interest Into ICTSI
Billionaire Enrique Razon is consolidating his stake in Manila Harbor Center into International Container Terminal Services Inc. (ICTSI) as part of initiatives to boost efficiency in the Philippines’ busiest port.
ICTSI, which is controlled by Razon, has agreed to acquire Manila Harbour Center Port Services Inc. for 2.4 billion pesos ($51 million) from Prime Strategic Holdings Inc., according to a stock exchange filing. Prime Strategic is Razon’s holding company for his interest in infrastructure investments such as the Chico hydropower project in Northern Philippines.
“We believe there is a strong opportunity to drive greater efficiencies in the port area through better, more coordinated use of facilities and through the centralized management of bulk handling activities,” ICTSI said in a statement. ....

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Philippine Tycoon Enrique Razon Consolidates Manila Port Interest Into ICTSI

Billionaire Enrique Razon is consolidating his stake in Manila Harbor Center into International Container Terminal Services Inc. (ICTSI) as part of initiatives to boost efficiency in the Philippines’ busiest port. ....

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ICTSI to buy Manila Harbour Center for P2.45B

ICTSI to buy Manila Harbour Center for P2.45B
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