INTERNATIONAL Container Terminal Services Inc. (ICTSI) on Wednesday said it had fully acquired a Brazilian logistics company to complement services in that country.
In a disclosure, the company said that its wholly owned subsidiary IRB Holding Ltda. acquired 100 percent of Companhia Regional de Armazéns Gerais e Entreposto Aduaneira, a São Paulo-based company that provides general and bonded warehousing and multimodal logistics services.
The purchase price, to be paid in cash, was not detailed. ICTSI said the transaction value was less than 10 percent of its total consolidated shareholders’ equity as of Dec. 31, 2025, and March 31, 2026.
It added that the transaction also represented the expansion of its business activities in Brazil. ICTSI said it was looking to offer differentiated and strategic solutions to increase operational and energy efficiency by using railways as the preferred transport mode.
The company also said the acquisition would help mitigate logistical bottlenecks in the area, expand the hinterland of its port assets, and offer safe and innovative alternatives for foreign customers.
Closing of the transaction remains subject to relevant and applicable regulations.
ICTSI shares on Wednesday surged P45.00, or 5.42 percent, to close at P875.00 per share.