ICTSI to divest entire stake in Indonesian port
International Container Terminal Services Inc. (ICTSI) is unloading its stake in a port facility located in Jakarta, Indonesia.
ICTSI said its unit signed an agreement with PT Samudera Terminal Indonesia (STI) for the purchase of its stake in PT Perusahan Bongkar Muat Olah Jasa And a, which operates Indonesia’s main port Tanjung Priok.
The transaction is subject to certain conditions.
ICTSI operates 27 terminals in 17 countries. It has a workforce of 10,000 employees worldwide with 2,000 based in the Philippines.