International Container Terminal Services, Inc. (ICTSI) has ended its 20-year presence in Yantai, China to focus on markets where it has greater operational control and stronger long-term returns.
The Razon-led port operator said in Wednesday filing that its subsidiary ICTSI (Hong Kong) Ltd. sold its 51 percent stake in Yantai International Container Terminal Ltd. (YICTL) to Yantai Port Holdings Company Limited for RMB773.2 million in cash, or about P6.79 billion.
The transaction was completed on 31 March.
The deal gives Yantai Port Holdings full ownership of the Shandong-based terminal, following a joint exit by ICTSI and co-investor DP World.
ICTSI said the move is “in keeping with the ICTSI Group’s long-term strategy of focusing on concession contracts where ICTSI has control over critical aspects of the business, particularly with regards to long-term development and commercial activities.”
The company said it can “redirect its resources to its other existing projects and those in its pipeline,” signaling a shift toward higher-return, more strategic assets.
Proceeds from the sale also provide greater flexibility to fund expansion and pursue new concessions, particularly in emerging markets where ICTSI typically secures long-term operating rights.
ICTSI added that the transaction will have no material effect on its business, financial condition, or operations, suggesting the Yantai terminal is no longer a key growth driver.
YICTL, located in Shandong Province, had been part of ICTSI’s China operations for two decades. Its exit marks the close of what the company described as a successful investment, but one that no longer aligns with its strategic direction.
ICTSI has been expanding in Latin America, Africa, and Southeast Asia, where it has greater control over pricing, capacity, and investments.