The Razon-led port operator signed an agreement to acquire the remaining 30-percent stake in iTracker Logistica Inteligente, raising its ownership from 70 percent to 100 percent.
iTracker is a full intermodal logistics provider that moves cargo through road and rail links serving users of the Port of Rio de Janeiro.
Its business stretches beyond the port itself, covering empty-container depots, export container freight stations, warehouses and distribution centers.
That gives ICTSI full ownership of a business spanning several links in the cargo chain, from containers leaving the port to storage and inland transportation.
ICTSI paid cash for the stake, although it did not disclose the exact price, saying only that the consideration was less than 10 percent of its consolidated shareholders’ equity.
The acquisition remains small relative to the global port operator, with iTracker contributing less than 1 percent of ICTSI’s consolidated financial performance.
—Edited by Miguel R. Camus
