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ICTS to buy stake in Pakistan container cargo terminal

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ICTS's unit ICTSI Mauritius Ltd is intending to buy 35-55 percent of Pakistan International Container Terminal Ltd, whose terminal is located at the Karachi port, it said in a statement.

The company did not say how much it will pay for the acquisition, but noted that the Pakistan firm handled a total of 669,806 twenty-foot equivalent container units for the year ended June 30, 11 percent higher than the year before.

Copyright Reuters, 2012