APM Terminals, part of the Maersk group, has completed the acquisition of Grupo Maritim TCB, the leading operator in Spain in container terminals, for the sum of one billion dollars. Approval is still pending for three of its eleven port terminals, accounting for less than 5% of the total value of the transaction.
This transaction means that APM's assets now include another eight ports moving over four million TEU (twenty-foot equivalent unit), and its network has increased to a total of 72 ports in 69 countries, representing a 7% rise in its activity worldwide.
APM's portfolio is not only growing in number but with this acquisition now also includes strategic ports with container terminal operations in Barcelona, Valencia, Castellón and Gijón. Outside Spain, the purchase adds to the group the ports of Yucatán (Mexico), Quetzal (Guatemala) –which will open this year on termination of construction–, Buenaventura (Colombia) and Paranagua (Brazil).
After the close of purchase, APM announced an investment plan of around 400 million dollars throughout the coming five years to upgrade the facilities of its new assets and expand its operations.
“The acquisition expands our position in Spain and accelerates our growth in Latin America”, says Kim Fejfer, CEO of APM Terminals.
APM reached an agreement in September 2015 with Pérez y Cía to acquire its stake in TCB, with 61% of the total. One month later, the remaining shareholders also agreed to sell up, making APM Terminals the sole shareholder in the Grup Maritim TCB.
While awaiting the approval of the acquisition of the TCB terminal in Turkey from the competent Turkish authorities, APM has omitted –only temporarily– this port and two more in the group in the Canary Islands.
Last updated: 17|06|2016