APM Terminals plans to sell its stake in major Russian port operator
After suspending all shipments to Russia and Belarus, the Danish logistics group A.P. Moller – Maersk intends to withdraw investments in the port sector of Russia. To this end, APM Terminals has announced its plans to sell its shares in Global Ports, a major Russian port operating company. The details of the further deal are currently under discussion.
On Friday, 11 March, APM Terminals, the Netherlands-based port operator and a part of A.P. Moller – Maersk, informed about its decision to sell its 30.75 per cent stake in Global Ports. The Russian port operator is ready to buy back the shares from APM Terminals. According to several Russian media, both parties are discussing the details and price of the deal.
Until the completion of APM Terminals withdrawal from the capital of Global Ports, the representatives of the shareholder will be represented on the Board of Directors and intend to fulfil their obligations to the company. It is worth reminding that APM Terminals acquire a 37.5 per cent stake in Global Ports in 2012 for around 860 million U.S. dollars. In 2013 the Netherlands-based operator reduced its share to 30.75 per cent.
Global Ports was incorporated in 2008. Its two major shareholders are Delo Group (30.75 per cent), a major private transport and logistics holding company in Russia, and APM Terminals (30.75 per cent). 20.5 per cent of shares are being listed in the form of global depositary receipts at the London Stock Exchange since 2011.
Global Ports operates five container terminals in three Russian harbours: Petrolesport, First Container Terminal, Moby Dik Terminal in the Port of Saint Petersburg, Ust-Luga Container Terminal in the Port of Ust-Luga and the Vostochnaya Stevedoring Company in the Port of Nakhodka. Moreover, it owns two container terminals in Finland, namely Multi- Link Terminals in Helsinki and Kotka. Global Ports also runs an inland container terminal Yanino Logistics Park in the vicinity of Saint Petersburg. In total, the capacity of maritime container terminals of the Russian port operator is more than 4 million TEU. Around 3,000 employees work for the group to operate its facilities.