A P Moller-Maersk’s (Maersk) terminals business, APM Terminals (APMT), has entered into an agreement to sell off its 30.75% shareholding in Global Ports Investments (GPI) to long-standing partner Delo Group.
The move is in line with an announcement made earlier this year of the company’s commitment to discontinue activities in Russia. APMT has now entered into a binding agreement, subject to regulatory approvals, to divest its entire 30.75% shareholding in GPI to its joint venture partner Delo Group which 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,” says CEO of APMT, Keith Svendsen.
“With the divestment of its shares in GPI, APMT will no longer be involved in any entities operating in Russia or own any assets in the country,” he said.
GPI is the largest container terminal operator in the Russian market. The Group owns and operates seven marine container and multipurpose terminals in two key marine container gateways. Its main business is container handling.
