International Container Terminal Services Inc. (ICTSI), controlled by Philippine billionaire Enrique Razon Jr., has agreed to acquire 100% of TLG Acquisition Holdings, expanding its presence across key port and cargo handling markets in Southern Africa, as reported by Business Insider Africa and Billionaires.Africa. TLG operates facilities in South Africa, Mozambique and Namibia, handling bulk commodities and agricultural products across its portfolio.
Under the agreement, ICTSI will acquire 74% of TLG from funds managed by African Infrastructure Investment Managers and the remaining 26% from Mokobela Shataki Proprietary Limited. The purchase price has not been disclosed, and completion remains subject to regulatory approvals and other conditions. TLG has a 97.33% effective economic interest in its underlying businesses, with the remaining 2.67% held by management.
The acquisition builds on ICTSI’s expanding presence in South Africa, following its 25 year partnership with state owned Transnet to operate and upgrade Durban Container Terminal Pier 2. The partnership began in January 2026, with ICTSI responsible for operating the terminal and plans to increase capacity from about 2 million to 2.8 million TEUs while improving productivity.
For ICTSI, the deal represents a broader push into Africa’s logistics infrastructure, giving the company exposure beyond container handling to bulk and agricultural cargo corridors across three Southern African economies. With trade infrastructure increasingly viewed as critical to Africa’s export competitiveness, the acquisition could position Razon’s group to capture growing demand for port capacity and more efficient cargo movement across the region.
