<\/p>\n
RAZON-LED International Container Terminal Services, Inc. (ICTSI) plans to accumulate the remaining 30% stake in iTracker Logistica Inteligente (iTracker), completing its ownership of the Brazil-based logistics company.<\/p>\n
In a regulatory filing on Thursday, the listed port operator confirmed its intention to accumulate the remaining interest in iTracker.<\/p>\n
\u201cThe corporate also wishes to make clear that it doesn’t consider the rise in its ownership interest in an existing subsidiary, which contributes lower than 1% to the Company\u2019s consolidated financial performance, to be a cloth transaction,\u201d ICTSI said.<\/p>\n
ICTSI said iTracker serves the Port of Rio de Janeiro and surrounding import-export hubs, providing end-to-end logistics services, including road freight and container transportation, empty container terminal operations, and general warehousing.<\/p>\n
The corporate currently owns a 70% stake in iTracker through its Brazilian unit, IRB Logistica Ltda.<\/p>\n
\u201cAccordingly, the Company believes that the transaction doesn’t constitute material information requiring disclosure under the applicable disclosure rules,\u201d ICTSI said.<\/p>\n
Earlier this month, ICTSI accomplished the acquisition of Brazil-based general and bonded warehousing and multimodal logistics company Companhia Regional de Armaz\u00e9ns Gerais e Entreposto Aduaneira (CRAGEA) through IRB Hold-ings Ltda., expanding its logistics business in Brazil.<\/p>\n
ICTSI said the consideration for the iTracker transaction is lower than 10% of its consolidated shareholders\u2019 equity as of Dec. 31, 2025, and March 31, 2026.<\/p>\n
Last month, ICTSI said its Rio Brasil Terminal (RBT) received two recent quay cranes, increasing the terminal\u2019s capability to handle larger vessels and support growing trade volumes.<\/p>\n
The modernization program also includes expanding and integrating storage yards, reorganizing operational areas, and adopting advanced technologies and automation.<\/p>\n
ICTSI operates port facilities across the Asia-Pacific, the Americas, Europe, the Middle East, and Africa.<\/p>\n
For the primary quarter, ICTSI\u2019s attributable net income rose 22.56% to $293.57 million, driven by higher cargo volumes and contributions from recent terminals.<\/p>\n
Shares in ICTSI fell P9, or 0.9%, to P990 each on Thursday. \u2014 Ashley Erika O. Jose<\/strong><\/p>\n<\/p><\/div>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Rio Brasil Terminal \u2014 ICTSI RAZON-LED International Container Terminal Services, Inc. (ICTSI) plans to accumulate the remaining 30% stake in iTracker Logistica Inteligente (iTracker), completing its ownership of the Brazil-based logistics company. In a regulatory filing on Thursday, the listed port operator confirmed its intention to accumulate the remaining interest in iTracker. \u201cThe corporate also […]<\/p>\n","protected":false},"author":1,"featured_media":367581,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[5998,9623,21245,97,972,14582,12607,1283],"class_list":["post-367580","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-acquire","tag-brazil","tag-ictsi","tag-logistics","tag-plans","tag-remaining","tag-stake","tag-unit"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t