Herbert Smith Freehills advised GIC, Singapore’s sovereign wealth fund, on its acquisition of a 10% interest in Terminal Investment Limited (TIL), the sixth largest container terminal operator in the world, from Global Infrastructure Partners (GIP) and other existing co-investors.
TIL has a globally diversified portfolio that handles the container volumes of the Mediterranean Shipping Company (MSC), the world’s second largest container shipping line, and other third parties including Maersk which is MSC’s 2M shipping alliance partner.
The Herbert Smith Freehills team advising GIC was led by GIC relationship partner Gavin Williams and fellow corporate M&A partner Ben Ward and included corporate partner Glynn Cooper, supported by corporate associates Paul Hartley, Ben Waterfall, John Ling and Sangheetaa Phary, competition, regulatory and trade partner Tim Briggs, competition, regulatory and trade associates Alberto Martinazzi and Anne Eckenroth, finance partner David Wyles, finance associates Charlotte Whight and Dhananjaya Chak, anti-bribery, corruption and sanctions compliance partner Dan Hudson, and anti-bribery, corruption and sanctions compliance associate Karam Jardaneh.
Gavin Williams commented: "We are delighted to have assisted GIC on this landmark investment which drew on expertise from across our full-service global platform."
Herbert Smith Freehills recently advised GIC in relation to its 50% investment in locomotive leasing business Railpool and has previously advised GIC on numerous infrastructure investments globally.
About Herbert Smith Freehills
Operating from 27 offices across Asia Pacific, EMEA and North America, Herbert Smith Freehills is at the heart of the new global business landscape providing premium quality, full-service legal advice. The firm provides many of the world’s most important organisations with access to market-leading dispute resolution, projects and transactional legal advice, combined with expertise in a number of global industry sectors, including Banks, Consumer products, Energy, Financial buyers, Infrastructure & Transport, Mining, Pharmaceuticals & Healthcare, Real estate, TMT and Manufacturing & Industrials. For more information, please visit www.herbertsmithfreehills.com. Follow us on Twitter @HSFlegal
GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. As a disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure. In infrastructure, GIC’s primary strategy is to invest directly in operating assets with a high degree of cash flow visibility and which provide a hedge against inflation. GIC has investments in over 40 countries. Headquartered in Singapore, GIC employs over 1,500 people across 10 offices in key financial cities worldwide. For more information on GIC, please visit www.gic.com.sg.
MSC’s subsidiary TIL is one of the world’s largest and most geographically diverse container terminal managing investors, with 53 terminals situated across 5 continents. TIL enjoys a presence at 7 of the world’s 25 busiest ports by volume and has sizeable market shares in Antwerp, Singapore, Long Beach, Ningbo, Newark, Bremerhaven and Rotterdam. TIL also invests in greenfield development, such as Brasil Terminal Portuario (BPT) in Santos, the largest container port in Latin America and Lome Container Terminal (LCT) in Togo, West Africa. For more information on TIL, please visit www.tilgroup.com.