Maersk, APM Terminals (APMT) will divest its 30.75% shareholding in Global Ports Investments PLC (GPI), Maersk announced. Following the announcement of Maersk’s commitment to discontinue activities in Russia earlier this year, APMT has now entered into a binding agreement, subject to regulatory approvals, to divest its entire 30.75% shareholding in GPI to APMT’s long-standing joint venture partner Delo Group who also owns 30.75% of the shares in GPI.
The transaction has been undertaken on an arm’s length basis and includes an ability for APMT to re-enter the partnership with Delo in the future.
"We are pleased that we have now concluded this transaction according to the plan and with our long-standing partner Delo, enabling us orderly exit from GPI in line with our decision to discontinue activities in Russia", said Keith Svendsen, CEO of APM Terminals
With the divestment of its shares in GPI, APMT 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.
A.P. Moller - Maersk is an integrated container logistics company working to connect and simplify its customers’ supply chains. APM Terminals is part of A.P. Moller-Maersk and operates one of the world’s most comprehensive port networks. The 75 terminals in its global network are operated exclusively by APM Terminals or together with a joint venture partner. This equates to handling around 250 vessel calls per day and 12.8 million moves per year.
