Red Sea Gateway Terminal (RSGT) has officially completed its 40% equity sale to Saudi Arabia’s Public Investment Fund (PIF) and COSCO Shipping Ports Limited (CSPL), with each party accounting for 20%.
The transactions imply an enterprise value for RSGT of US$880m and a total gross inflow of equity value for the founding shareholders of US$280m.
RSGT currently has an annual container throughput capacity of 5.2m teu, making it the largest terminal in Jeddah Islamic Port (JIP), which is also the largest port in Saudi Arabia.
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