Maersk’s terminal operator APM Terminals has reached an agreement with shipping and logistics company 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 4.3 million TEUs and an estimated annual container volume of 3.5 million TEUs.
According to APMT, 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.
“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. Equally important, Grup Maritim TCB is one of the best run terminal businesses in the market with a history dating back to 1972, when it was first established by the Perez-Maura family in Barcelona, ” APM Terminals CEO Kim Fejfer said.
Grup Maritim TCB CEO, Xavier Soucheiron said that the agreement with APM Terminals marks a landmark moment in the Grup Maritim TCB journey, as the two companies “share the same core values and views on how to build on our market momentum, where to invest in port upgrades and improve the entire TCB portfolio for clients.”
This latest portfolio expansion of the APM Terminals Global Terminal Network increases the number of operating facilities to 74, in 40 countries across five continents.
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.