Genesis Asset Manager acquires a 5 % stake in ICTSI
UK-based Genesis Asset Managers has acquired a 4.99% stake in International Container Terminal Services Inc. (ICTSI). In a beneficial ownership report to the Securities and Exchange Commission, Genesis Asset Managers LLP said it has accumulated 97.02 million shares equivalent to 4.99 percent of ICTSI's 1.94 billion issued shares.
Last year, it handled 5,628,000 TEUs, 7.5% more than in 2011. The consolidated financial results published in March show a net income of $144M, up by 9.9% from the $131M reported in 2011.
Capital Group Companies Inc. acquired a 8.7 % stake in International Container Terminal Services Inc (ICTSI) in September 2012.
Headquartered in Manila, ICTSI is involved in operating and/or developing of 27 terminals in 19 countries. Besides the Philippines, ICTSI has operations in Argentina, Brazil, British Virgin Islands, Brunei, Cayman Islands, China, Colombia, Croatia, Ecuador, Honduras, Hong Kong, India, Indonesia, Japan, Madagascar, Mauritius, Mexico, Pakistan, Panama, Poland, Singapore, South Africa, The Netherlands, United Arab Emirates, United States of America, Uruguay, and Venezuela.
