Maersk, one of the world’s largest shipping companies, has been looking to divest its Russian assets and now it has announced that it has sold its Russian port assets. Source: Timberbiz
Following the announcement of Maersk’s commitment to discontinue activities in Russia earlier this year, APMT has now entered into a binding agreement, subject to regulatory approvals, to divest its entire 30.75% shareholding in GPI to APMT’s long-standing joint venture partner Delo Group who also owns 30.75% of the shares in GPI.
“We are pleased that we have now concluded this transaction according to the plan and with our long-standing partner Delo, enabling us orderly exit from GPI in line with our decision to discontinue activities in Russia,” said Keith Svendsen, the CEO of APM Terminals.
With the divestment of its shares in GPI, APMT will no longer be involved in any entities operating in Russia or own any assets in the country the company stated.
The transaction has been undertaken on an arm’s length basis and includes an ability for APMT to re-enter the partnership with Delo in the future.
With the divestment of its shares in GPI, APMT will no longer be involved in any entities operating in Russia or own any assets it the country. The transfer of share ownership takes place after regulatory approvals have been obtained.
