GIP sold stakes in Terminal Investment to MSC & GIC.

MSC Mediterranean Shipping Company increased its majority stake in Terminal Investment, the sixth largest container terminal operator in the world, to 60%, following a deal with Global Infrastructure Partners and other co-investors. Additionally, GIC, Singaporean sovereign wealth fund, acquired a 10% stake in Terminal Investment. TIL has a globally diversified portfolio that handles the container volumes of the MSC and other third parties including Maersk. Financial terms were not disclosed. Ang Eng Seng, Chief Investment Officer of Infrastructure at GIC, said: "We are pleased to invest in TIL, given its strong business alignment with its majority shareholder, MSC, and attractive growth potential from its pipeline of both existing and new terminals. We expect TIL to be well-placed to benefit from the increasing demand for containerized goods as the global middle class and manufacturing outsourcing continue to expand. As a long-term investor, we look forward to partnering with MSC, TIL's management and GIP to support the future growth of the company."