Mediterranean Shipping Co. has reached an agreement with Global Infrastructure Partners and a group of its limited partner co-investors to sell 35 percent of its stake in Terminal Investment Limited SA.

The sale is under consideration for $1.929 billion, including certain payments contingent on Terminal Investment’s future performance. Closing is expected to take place in the middle of the year and is subject to obtaining relevant approvals.

As part of the deal, GIP’s Alistair Baillie will join Terminal Investment as president.

“Through this partnership, we are reinforcing our terminal division, which will enable us to capitalize on future opportunities and growth,” said Diego Aponte, vice president of MSC, in a written statement.

Terminal Investment has, or is in the process of acquiring, controlling or joint-controlling interests in 30 container terminals in North America, South America, Europe, Africa, the Middle East and Asia.

via: www.joc.com