A.P. Moller Capital has agreed to acquire Singapore-based port operator Portek International from Mitsui & Co., adding seven port terminals across Africa, Asia and Europe to its infrastructure investment portfolio.
The transaction, which will see A.P. Moller Capital acquire 100% of Portek through its Emerging Markets Infrastructure Fund II, remains subject to regulatory and other third-party approvals.
Portek operates multipurpose port terminals across Algeria, Gabon, Indonesia, Latvia, Malta and Vietnam, handling approximately seven million tonnes of bulk cargo, 700,000 containers and 90,000 vehicles annually.
Founded in 1988, the company also provides port engineering, operations and maintenance services, principally from Singapore and Indonesia.
Following completion, A.P. Moller Capital plans to work with Portek’s existing management and operating teams to improve operational performance, safety and environmental standards, including emissions-reduction planning.
Semih Gökmen, partner at A.P. Moller Capital, said: “It is an established business with a diversified portfolio of port operations serving important trade flows across three continents, supported by experienced local operating teams.”
The acquisition will complement A.P. Moller Capital’s existing investments in Philippines-based AC Logistics and Bergé Logistics, which operates in Spain and Latin America.
The investment manager has also recently signed agreements to acquire majority stakes in Globex Investissement and Euroports.
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