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APM Terminals pays US$1 billion for remaining Grup Maritim TCB shares
APM Terminals has agreed to acquire 100 per cent of the issued shares of Grup Maritim TCB under a deal valued at US$1 billion.
This comes as the terminal operator signed a new agreement to buy out the remaining 39 per cent stake in Grup Maritim TCB from Spain's Perez y Cia, following an earlier acquisition of a 61 per cent share in September.
The transaction is expected to close in the first quarter of 2016. The deal paves the way for the Maersk port operator to control 11 terminals in Europe and Latin America with an annual throughput capacity of 4.3 million TEU.
"The complementary expertise and market geography of the Grup Maritim TCB portfolio will enable us to achieve our growth ambitions and further diversify our portfolio," said APM Terminals CEO, Kim Fejfer, reported Seatrade Maritime.
This latest portfolio expansion will increase the number of APM Terminals' operating facilities to 74 in 40 countries across five continents.
This comes as the terminal operator signed a new agreement to buy out the remaining 39 per cent stake in Grup Maritim TCB from Spain's Perez y Cia, following an earlier acquisition of a 61 per cent share in September.
The transaction is expected to close in the first quarter of 2016. The deal paves the way for the Maersk port operator to control 11 terminals in Europe and Latin America with an annual throughput capacity of 4.3 million TEU.
"The complementary expertise and market geography of the Grup Maritim TCB portfolio will enable us to achieve our growth ambitions and further diversify our portfolio," said APM Terminals CEO, Kim Fejfer, reported Seatrade Maritime.
This latest portfolio expansion will increase the number of APM Terminals' operating facilities to 74 in 40 countries across five continents.
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