According to Alphaliner, APM Terminals, the port operating arm of the APM Group – Maersk, has reached an agreement to sell its 30.75% shareholding in Global Ports Investments (GPI) to its partner Delo Group.
Maersk thus continues with its plan to exit the Russian market. Rumors that APMT would take this step already surfaced in March, shortly after Russia’s attack on Ukraine, and the group later confirmed that it would withdraw without elaborating, reports Alphaliner.
APMT this week stated that it has entered into a binding agreement, subject to regulatory approvals, to divest its entire stake in GPI. The company added that the transaction was made at arm’s length and includes the ability for APMT to re-enter the partnership with Delo in the future, Alphaliner reports.
Finally, it mentions that Maersk Group has been investing in Global Ports since 2012. Global Ports consists of several entities registered in Russia and Cyprus, and the group operates Russian container terminals in Saint Petersburg, Kronstadt, Ust-Luga, and Vostochny. In addition to these, the company manages inland warehouses in Russia and participates in a joint venture with terminal operations in Finland.