International Container Terminal Services (PSE:ICT) agreed to acquire 100% of TLG Acquisition Holdings (RF) Proprietary, a port operator with operations across Mozambique, Namibia and South Africa.

ICTSI signed the sale and purchase agreement with African Infrastructure Investment Managers, which collectively owns 74% of TLG, and Mokobela Shataki Proprietary Limited, which holds the remaining 26%.

Deal completion is subject to certain conditions, including applicable regulatory approvals.