On the 17th of July, Transnet SOC Ltd (Transnet) announced that International Container Terminal Services Inc. (ICTSI) has been selected as Preferred Bidder for the operations of Durban Container Terminal (DCT) Pier 2. This marks the conclusion of the process of selecting an equity partner for its flagship container terminal in the port of Durban, South Africa. MTBS is thrilled to have acted as sell-side transaction advisor to Transnet in this milestone container terminal transaction. Moreover, we would like to congratulate ICTSI on its selection as Preferred Bidder.
A total of 18 responses were received by Transnet following the Request for Information (RFI) in August 2021. In the next stage of the transaction, 10 bids were shortlisted following the Request For Qualification (RFQ). Of these shortlisted respondents, 6 bidders submitted proposals in the Request For Proposal (RFP) stage. Transnet now proceeds to work with ICTSI to complete the transaction through the execution of the legal agreements, and ensuring compliance with all legal and regulatory matters.
MTBS assisted Transnet as transaction advisor in seeking a suitable terminal operator as equity partner for the DCT Pier 2 transaction. MTBS advised on the valuation of the terminal, the full business case and the multi-staged (RFQ / RFP) sell-side transaction process.