The Dublin headquartered and New York Stock Exchange-listed fresh producer Dole plc (Dole) has announced that certain of its subsidiaries have entered into several agreements that when completed will result in the sale of Dole’s port and port operations in Guayaquil, Ecuador to Terminal Investment Limited Holding S.A.

Dole states that it will continue to utilize the port pursuant to an agreement with the buyer to provide port terminal services, including the loading and discharging of containers until completion of the sale.

The sale is subject to regulatory clearance in Ecuador, with the estimated net proceeds from the sale to be around $75m in cash, after costs and customary transaction completion adjustments.

Terminal Investment Limited Holding S.A is a global port operator with a portfolio of container terminals in ports like Singapore, Ningbo, Busan, Los Angeles, Long Beach, Rotterdam, Antwerp, New York / New Jersey and Valencia.

Terminal Investment Limited has – MSC Mediterranean Shipping Company, Global Infrastructure Partners (a part of BlackRock), and GIC Government of Singapore Investment Corporation – as shareholders.