ICTSI takes full control of Brazilian logistics firm

International Container Terminal Services Inc. (ICTSI) is taking full control of Brazil-based iTracker Logistica Inteligente, consolidating ownership of a logistics business supporting users of the Port of Rio de Janeiro.

In a Friday disclosure, the Razon-led port operator said it signed a share purchase agreement to acquire the remaining 30-percent equity interest in iTracker, raising its ownership from 70 percent to 100 percent.

“iTracker provides eco-efficient solutions to users of the Port of Rio de Janeiro, Brazil, as a full intermodal logistics provider,” ICTSI said in the disclosure.

Its services include an empty container depot, export container freight station, general warehousing, distribution center, and road and railway transportation.

The acquisition gives ICTSI full ownership of the logistics provider as the global port operator continues to strengthen its presence around its terminal operations in Brazil.

ICTSI said the total consideration, which was negotiated and paid in cash, was equivalent to less than 10 percent of its consolidated shareholders’ equity as of the end of 2025 and 30 June. The exact purchase price was not disclosed.

The transaction, however, is not expected to materially move ICTSI’s earnings.

“iTracker contributes less than 1 percent to the Company's consolidated financial performance, with no material impact on the Company’s future financial results,” ICTSI said in its Friday disclosure.

The deal follows ICTSI’s confirmation in July that it intended to acquire the remaining 30-percent interest in iTracker.

ICTSI operates 33 terminals in 19 countries and is one of the world's largest independent port operators.