Maersk ports unit buys 11 terminals to expand container capacity

Monday, 14 September 2015 00:00 - - {{hitsCtrl.values.hits}}

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Reuters: Port operator APM Terminals, part of Denmark’s A.P. Moller-Maersk, is buying 11 container ports from Spanish shipping and logistics group Perez y Cia to boost its presence in emerging markets and better serve bigger container vessels.

No terms were given for the deal, which will increase APM Terminals’ container ports to 74 from 63 including terminals in Colombia, Brazil and Mexico, but Nordea Markets estimated an enterprise value of around 1.35 billion euros ($ 1.5 billion), based on similar deals and other companies in the sector.

APM Terminals Chief Executive Kim Fejfer said the deal would make the company better prepared to handle new alliances among container shipping companies and their new bigger vessels.

APM Terminals is the world’s third largest container port operator after Singapore state-owned operator PSA International and Hutchison Port Holdings, a unit of Hong Kong-based CK Hutchison Holdings Ltd.