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ICTSI subsidiary announces public tender offer for Pakistan International Container Terminal Limited

International Container Terminal Services, Inc's (ICTSI) indirect wholly-owned subsidiary, ICTSI Mauritius Limited (ICTSIML) has commenced today a public tender offer at the Karachi Stock Exchange to purchase outstanding shares in Pakistan International Container Terminal Limited (PICT) at a price of PKR150 per share.
This mandatory tender offer is being made pursuant to the definitive Share Purchase Agreement dated March 30 2012 (the Agreement) by and among ICTSIML and the controlling shareholders of PICT for the acquisition of up to 35% of the outstanding shares in PICT. The signing of the Agreement was earlier disclosed to the Philippine Stock Exchange and Philippine Securities and Exchange Commission on April 2012. The tender offer will expire at 17:00 Pakistan Standard Time on October 10, 2012, unless the offer is extended.

International Container Terminal Services, Inc. (ICTSI) is a leading port management company involved in the operations and development of 24 marine terminals and port projects in 17 countries. ICTSI was among the first international terminal operators to take its expertise overseas, and has received global acclaim for its public-private partnerships with economies divesting of its port assets to the private sector.
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"ICTSI subsidiary announces public tender offer for Pakistan International Container Terminal Limited" was written by Mary under the Business category. It has been read 1994 times and generated 0 comments. The article was created on and updated on 10 August 2012.
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