ICTSI Mauritius Limited ("Aquirer"), an indirect wholly-owned subsidiary of International Container Terminal Services, Inc. (ICTSI), has announced in the Karachi Stock Exchange on March 6, 2012, through its financial Adviser, Citibank N. A. - Karachi Banch, its intention to acquire 35-55% of the issued and paid-up ordinary shares of the Pakistan International Container Terminal Limited (PICT) ('Target Company").
PICT is a company that is listed in the Karachi Stock Exchange Guarantee Limited (KSE). It is a container cargo terminal located at the Karachi Port in Pakistan. It has a maximum handling capacity of 750,000 Twenty-Foot Equivalent Container Units (TEUs). For the fiscal year ending June 30, 2011, PICT handled a total of 669,806 TEUs which is equivalent to an II % growth compared to the previous year.
Attached is a copy ofthe announcement filed by ICTSI Mauritius Limited with the Karachi Stock Exchange."
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