APM Terminals divests Virginia

APM Terminals is divesting its facilities in the Port of Virginia, on the US East Coast, to Infrastructure Partnership. The price has not been made public, though estimates put it in the vicinity of USD 450 million.

APM Terminals has now decided to let completely go of Virginia by divesting its terminal in the port, says the company in a statement.

The buyer consists of affiliates to investment funds managed by Alinda Capital Partners and Universities Superannuation Scheme Lt., and the divestment comes approximately 18 months after the port authority declined a billion-dollar offer from Maersk to privatize the state-owned port. The new owner of the terminal will raise USD 450 million for the acquisition, the same sum APM Terminals spent when it purchased the facility seven years ago. However, it has not yet been made public whether this is the price APM Terminals is asking for the transaction.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Several factors explain the plummeting dry bulk rates

Dry bulk rates have taken an unusual dive at the beginning of 2022. Most recently, the Baltic Dry Index dipped by 4 percent Friday. Several factors have triggered a ”panic in the market,” an analyst explains to ShippingWatch.

Further reading

Related articles

Latest news

See all jobs