APM Terminals completes Spanish billion dollar acquisition

Maersk-owned port unit APM Terminals has completed its takeover of Spain's Grup Maritim TCB for one billion USD. The transaction includes ports in southern Europe as well as Latin America.

APM Terminals has completed its acquisition of Spanish port and logistics group Grup Maritime TCB a total of USD one billion. The Maersk-owned port and terminal operator still needs to secure final approval for three of the 11 terminals under Grup Maritim TCB, but APM Terminals has nevertheless decided to complete the takeover as the three terminals account for just five percent of the total value of the deal, informs APM Terminals in a statement.

The acquisition of Grup Maritim TCB adds seven percent in volumes to APM Terminals' portfolio in several key ports in, among other locations, Barcelona, Valencia and Castellon. Grup Maritim TCB also includes container terminals outside of Spain, in places such as Mexico, Guatemala, Colombia and Brazil, where APM Terminals is looking to invest around USD 400 million over the next five years in upgrades and expansions.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
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

Reefer rates to peak in fall season, followed by slow decline

Rates on refrigerated containers, or reefers, have increased by 50% in the second quarter compared to the same period in 2021, with growth set to continue in the third quarter. 2023, however, will see rates slowly declining, forecasts consultancy Drewry.

Further reading

Related articles

Latest news

See all jobs