"International Container Terminal Services Inc. (ICTSI) will acquire a majority stake in an Indonesian port as the operator expands its global footprint. The Philippines-based firm signed a Conditional Share Subscription and Purchase Agreement with Indo Port Holding Pte Ltd. and Eastlog Holding Pte Ltd to acquire majority ownership in PT East Java Development – which has the concession rights, with 47 years remaining in its concession, to operate a multi-purpose terminal located in Lamongan Regency, East Java, Indonesia." See the original story at Port Technology.
Source: Port Technology