ICTSI increases stake in PICT, by acquiring 6.82 million shares

Philippines-based International Container Terminal Services, Inc. (ICTSI), through its Mauritian unit, has increased its stake in Pakistan-based port operator Pakistan International Container Terminal Limited (PICT). In this deal, ICTSI Mauritius Limited has acquired an additional 6.82 million shares, which translate into 6.25 per cent of PICT’s issued capital. Meanwhile, the company has also acquired a 15.72 per cent stake in PICT, which was previously held by Aeolina Investments. Therefore, ICTSI Mauritius’ direct and indirect ownership in PICT now stands at 63.6 per cent.