A.P. Moller-Maersk’s terminals business, APM Terminals has entered into a binding agreement to divest its 30.75% shareholding in Global Ports Investments PLC (GPI) to long-standing partner Delo Group, the Group said in a statement.
The agreement follows the announcement of Maersk’s commitment to discontinue activities in Russia earlier this year.
Delo Group already also owns 30.75% of the shares in Global Ports. With the new acquisition, Delo will increase its package in Global Ports up to 61.5%.
“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,” Maersk said.
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.
Photo: Global Ports