ICTSI Expands Brazil Footprint with Acquisition of Two Terminals

MANILA, Philippines — Logistics giant International Container Terminal Services Inc. (ICTSI) has acquired two dry bulk terminals at the Port of Aratu in Bahia, Brazil, for $130 million, further solidifying its presence in the South American nation. The acquisition, made through ICTSI Americas B.V., involves the full buyout of HSIM Participacoes E Holding Ltda., the owner of the ATU12 and ATU18 terminals. These terminals are strategically located adjacent to each other and are designed to process both agricultural imports and exports. ICTSI stated that the takeover of ATU12 and ATU18 will elevate its role in Brazil's strategically important agricultural trade. The terminals have recently completed expansion works, enhancing their capacity to support future traffic volumes. The total consideration for the acquisition is 650 million Brazilian real, equivalent to $130 million, paid at 19.41 Brazilian real per share for the entire 33.5 million shares of HSIM. Additionally, ICTSI may make an earn-out payment of 100 million Brazilian real if certain milestones are met within 18 months of the transaction's closure. ICTSI has been on an acquisition spree in Brazil, aiming to bolster its expansion plans in Latin America. This latest move follows the acquisition of Sao Paolo-based Companhia Regional de Armazens Gerais e Entreposto Aduaneira in June, a company providing multimodal logistics and warehousing services. ICTSI is leveraging this acquisition to mitigate transport bottlenecks within Brazil. Further demonstrating its commitment to the Brazilian market, ICTSI announced in 2025 an investment of up to P10 billion to modernize the Rio Brasil Terminal. This project is projected to increase the terminal's operational capacity by approximately 70 percent. Once completed in 2029, the Rio Brasil Terminal's capacity will rise from 440,000 TEUs to 750,000 TEUs, positioning it as Brazil's maritime hub, particularly for its southeastern and midwest regions. The company expects the acquisitions to contribute to increasing returns for its shareholders. Information source: Philstar Business