In shipping’s ongoing consolidation phase, APM Terminals has reached an agreement with Perez y Cia to acquire their majority stake in the Barcelona-based Grup Maritim TCB and its maritime services’ container terminal portfolio in Europe and Latin America. Grup Maritim TCB has 11 container terminals with an annual throughput capacity of 4.3m teu and an estimated annual container volume of 3.5m teu. The transaction is expected to close by the end of the year and is subject to certain conditions precedent, including relevant approvals. Terms and price were not disclosed.
Grup Maritim TCB consists of Spanish container terminal concessions in Barcelona, Valencia and Castellon, on the Mediterranean coast, along with the concessions in Gijon, on the Bay of Biscay, and in the Canary Islands: Santa Cruz on Tenerife and La Palma on Gran Canaria. Outside of Spain, Grup Maritim TCB’s terminal operations include Izmir, Turkey; Yucatan, Mexico; Quetzal, Guatemala (under construction, opening 2016); Buenaventura, Colombia, on the Pacific Coast; and Paranagua, Brazil.
APM Terminals CEO Kim Fejfer said: “This is an exciting investment for APM Terminals, which adds complementary locations to our portfolio in high growth markets throughout Latin America, in Turkey and a strong gateway presence in Spain.”
With this acquisition, APM Terminals, part of the Maersk Group, now has 74 facilities in 40 countries.