Portek is a turnkey port services and solutions provider as well as an operator of container terminals of up to 350,000 TEU and multi-purpose ports. ICTSI is an international operator of common user container terminals serving the global container shipping industry. Portek is listed on the Main Board of the Singapore Exchange Securities Trading Limited.
Enrique K Razon Jr, Chairman and President of ICTSI, said, “Our offer represents an attractive proposition to Portek shareholders to realise the value of their investment in cash and at a substantial premium to the historical traded prices of the Shares. We strongly believe that the offer reflects the value of the combined business and management of the Portek and ICTSI.”