ICTSI expands interest in Africa with TLG Holdings acquisition

International Container Terminal Services Incorporation (ICTSI) has expanded its business interest in Africa with the signing of an agreement to acquire 100% of the shares in TLG Holdings.

According to a Philippines Stock Exchange, the transaction also remains conditional on regulatory approval and other completion requirements. ICTSI has therefore agreed to buy TLG but does not yet control the business.

The acquisition price was not disclosed.

TLG provides port and cargo-handling services for bulk commodities and agricultural products. Its businesses operate across important trade corridors in Mozambique, Namibia and South Africa.

ICTSI will purchase a 74% stake from entities managed by African Infrastructure Investment Managers. The remaining 26% will be acquired from South African investment company Mokobela Shataki.

ICTSI will own all the shares in the TLG holding company after completion.

However, management investors retain minority interests in some underlying operating businesses, leaving ICTSI with an effective economic interest of approximately 97.33% across the group.

The Philippines Stock Exchange did not provide a complete public list of every facility, concession and cargo volume included in the transaction.

That information, together with TLG’s debt and annual revenue, will be necessary to assess what ICTSI is actually paying for.

ICTSI already manages terminals in Nigeria, Cameroon, the Democratic Republic of Congo, Madagascar and South Africa.

Its existing operations include Onne Multipurpose Terminal in Nigeria, Kribi Multipurpose Terminal in Cameroon, Matadi Gateway Terminal in the DRC and Madagascar International Container Terminal.

The latest acquisition would deepen its exposure to Southern Africa rather than representing its first move onto the continent.

Its most important recent African agreement covers Durban Container Terminal Pier 2.

ICTSI and South Africa’s state-owned Transnet signed a 25-year partnership in December 2025. Operations began in January 2026, with Transnet retaining a 51% interest in the operating company and ICTSI holding 49%.