Global port operator International Container Terminal Services, Inc. (ICTSI)Click to open side panel for more information has finalized a share purchase agreement to acquire the remaining 30 percent equity stake in iTracker Logistica Inteligente, bringing its total ownership of the Brazilian firm to 100 percent.
The buyout increases ICTSI’s previous 70 percent stake in iTracker, an intermodal logistics provider serving trade operations at the Port of Rio de Janeiro in Brazil. The company offers a comprehensive range of supply chain services, including general warehousing, distribution facilities, road and rail transport, an export container freight station and an empty container depot.
Despite securing full ownership, ICTSI stated that iTracker’s operations currently represent under 1 percent of its consolidated financial performance, adding that the buyout is not expected to materially alter its broader financial trajectory.
The transaction coincides with ICTSI’s wider multi-market expansion strategy. The company previously closed a $1 billion, 10-year term loan facility with BDO Unibank Inc. to support capital projects across its international terminal portfolio.
For 2026, ICTSI has allocated a $740 million capital expenditure budget focused on network upgrades, equipment acquisition, and terminal buildouts. Key projects include finishing Phase 3B of Contecon Manzanillo in Mexico, advancing terminal expansion work across the Philippines, Brazil, and the Democratic Republic of Congo, and launching new projects in Australia, Ecuador, Honduras, and Mexico.
The port operator posted $589.98 million in net income for the first six months of the year, marking a 22 percent growth from the $483.84 million recorded during the corresponding period last year.