TLG operates across Mozambique, Namibia and South Africa, widening ICTSI’s footprint in key markets across the continent.
The transaction will give ICTSI full ownership of the holding company once completed, a stock exchange filing on Friday showed.
ICTSI will buy 74 percent of TLG from funds managed by African Infrastructure Investment Managers and the remaining 26 percent from Mokobela Shataki Proprietary Limited.
The acquisition price was not disclosed.
Building on Durban
The deal follows ICTSI’s takeover of operations at Durban Container Terminal Pier 2 in January under a 25-year partnership with South African state logistics group Transnet.
The Durban terminal can handle up to 3 million containers and connects by road and rail to major economic centers in South Africa and neighboring markets.
TLG adds port and cargo-handling facilities serving bulk commodities and agricultural products, although management will retain a 2.67-percent economic interest in the underlying business.
The acquisition remains subject to closing conditions, including regulatory approvals.
—Edited by Miguel R. Camus
