AP Moller-Maersk’s terminals business APM Terminals has entered into an agreement to divest its 30.75% shareholding in Global Ports Investments to long-standing partner Delo Group. Following the announcement of Maersk’s commitment to discontinue activities in Russia earlier this year, APM Terminals has now entered into a binding agreement, subject to regulatory approvals, to divest its entire 30.75% shareholding in Global Ports Investments to APM Terminals’s long-standing joint venture partner Delo Group who also owns 30.75% of the shares in Global Ports Investments. The transaction has been undertaken on an arm’s length basis and includes clause for APM Terminals to re-enter the partnership with Delo in the future.With the divestment of its shares in Global Ports Investments, APM Terminals will no longer be involved in any entities operating in Russia or own any assets it the country. The transfer of share ownership takes place after regulatory approvals have been obtained.Global Ports Investments is the largest container terminal operator in the Russian market. The Group owns and operates 7 marine container and multipurpose terminals in two key marine container gateways. The Group’s main business is container handling. In addition, the Group handles a number of other types of cargo, including bulk, cars and other types of roll-on roll-off cargo.
AP Moller-Maersk’s terminals business APM Terminals has entered into an agreement to divest its 30.75% shareholding in Global Ports Investments to long-standing partner Delo Group. Following the announcement of Maersk’s commitment to discontinue activities in Russia earlier this year, APM Terminals has now entered into a binding agreement, subject to regulatory approvals, to divest its entire 30.75% shareholding in Global Ports Investments to APM Terminals’s long-standing joint venture partner Delo Group who also owns 30.75% of the shares in Global Ports Investments. The transaction has been undertaken on an arm’s length basis and includes clause for APM Terminals to re-enter the partnership with Delo in the future.With the divestment of its shares in Global Ports Investments, APM Terminals will no longer be involved in any entities operating in Russia or own any assets it the country. The transfer of share ownership takes place after regulatory approvals have been obtained.Global Ports Investments is the largest container terminal operator in the Russian market. The Group owns and operates 7 marine container and multipurpose terminals in two key marine container gateways. The Group’s main business is container handling. In addition, the Group handles a number of other types of cargo, including bulk, cars and other types of roll-on roll-off cargo.
