{"id":3615,"date":"2012-08-16T18:37:00","date_gmt":"2012-08-16T17:37:00","guid":{"rendered":"https:\/\/portstrategy.nfdtesting.uk\/coastlink\/2012\/08\/16\/ictsi-eyes-majority-control-of-pakistan-terminal\/"},"modified":"2026-08-27T15:33:32","modified_gmt":"2026-08-27T14:33:32","slug":"ictsi-eyes-majority-control-of-pakistan-terminal","status":"publish","type":"post","link":"https:\/\/www.portstrategy.com\/coastlink\/2012\/08\/16\/ictsi-eyes-majority-control-of-pakistan-terminal\/","title":{"rendered":"ICTSI eyes majority control of Pakistan terminal"},"content":{"rendered":"<p>In a disclosure made to the stock exchange, both in Manila and in Karachi, ICTSI revealed its intention to purchase outstanding shares at a price of PKR150 per share.<\/p>\n<p>With this new bid, expected to be worth around $95m, ICTSIML wants to gain control of 55% of PICT, which would in effect, make the operator the leading shareholder of PICT.<\/p>\n<p>The bid is being made in pursuant to the 35% of shares already granted to ICTSIML by the existing majority shareholder under an agreement signed back in March.<\/p>\n<p>A report published in the <i>Philippine Daily Inquirer<\/i> this week says that while the new tender offer would cover all PICT capital stock, ICTSI\u2019s joint venture partner, Premier Mercantile Services, would keep a 40% stake, leaving PICT with \u201can assumed public float of 5%\u201d on the Karachi stock exchange.<\/p>\n<p>The tender offer is due to expire on October 10.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>International Container Terminal Services Inc subsidiary, ICTSI Mauritius has confirmed to Port Strategy that it has launched a bid to takeover Pakistan International Container Terminal Limited, an operator at Karachi port.<\/p>\n","protected":false},"author":8,"featured_media":3616,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[25],"tags":[],"sponsor":[],"class_list":["post-3615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/3615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/comments?post=3615"}],"version-history":[{"count":1,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/3615\/revisions"}],"predecessor-version":[{"id":3617,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/3615\/revisions\/3617"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/media\/3616"}],"wp:attachment":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/media?parent=3615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/categories?post=3615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/tags?post=3615"},{"taxonomy":"sponsor","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/sponsor?post=3615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}