Contship Italia and Itaterminaux S.à.r.l., a fully controlled subsidiary of Terminal Investment Ltd (TIL), have executed a share purchase agreement concerning the sale of 50% of CSM Italia Gate, the company which owns 100% of MCT – Medcenter Container Terminal S.p.A.
MCT is the concessionaire of the container terminal activities in the port of Gioia Tauro and TIL already owned 50% of CSM Italia Gate S.p.A.
The parties involved are not disclosing terms. Regulatory approvals are still pending.
At closing, TIL will own 100% of CSM Italia Gate S.p.A. and will indirectly control all the shares of MCT.
Contship began operations at Gioia Tauro 24 years ago.
