International Container Terminal Services, Inc. (ICTSI) has announced plans to acquire the remaining 30% stake in Brazil-based iTracker Logistica Inteligente, securing full ownership of the logistics firm.
The port operator disclosed the transaction in a regulatory filing, confirming its intent to purchase the outstanding interest through its Brazilian unit, IRB Logistica Ltda.
ICTSI currently holds a 70% stake in iTracker, which provides end-to-end logistics services at the Port of Rio de Janeiro and surrounding trade hubs.
Its services include road freight, container transportation, empty container terminal operations, and general warehousing.
The company stated the acquisition is not material, as the subsidiary contributes less than 1% to consolidated financial performance.
ICTSI noted the consideration is below 10% of consolidated shareholders’ equity as of December 31, 2025, and March 31, 2026.
Earlier this month, the firm expanded its Brazilian logistics footprint by acquiring Companhia Regional de Armazéns Gerais e Entreposto Aduaneira through IRB Holdings Ltda.
Separately, ICTSI’s Rio Brasil Terminal received two new quay cranes last month to handle larger vessels and rising trade volumes.
The terminal modernization also covers storage yard expansion, operational reorganization, and adoption of automation technologies.
ICTSI operates port facilities across the Asia-Pacific, the Americas, Europe, the Middle East, and Africa.
In the first quarter, attributable net income rose 22.56% to $293.57 million, supported by higher cargo volumes and new terminal contributions.
Shares in ICTSI declined P9, or 0.9%, to P990 each following the announcement.
