A Russian transport and logistics company has bought a 30.75% stake in Global Ports, one of Russia’s biggest terminal operators.
Global Ports announced that Delo had purchased the stake from Transportation Investments Holding Limited, another Russian transport company.
The agreement remains subject to various conditions, including antitrust clearances and other customary arrangements. The sale is expected to complete by end of April 2018.
CEO of Global Ports Management LLC, Mikhail Loganov, commented: “We are delighted to welcome Delo as our potential strategic shareholder. Delo has an impressive track record in the Russian port industry and operates in the Black Sea Basin where Global Ports is not currently represented.”
Sergey Shishkarev, the President and the owner of Delo Group commented: “We did not hesitate a second when taking the decision to enter the transaction. We highly rate the potential of our cooperation with Global Ports, will apply our rich experience in transportation industry and will take maximum effort to strengthen the Company in the markets in which it is active. We are very much aligned with the Group’s current strategy and governance structure.”
Global Ports operates five container terminals in Russia (Petrolesport, First Container Terminal, Ust-Luga Container Terminal and Moby Dik in the Russian Baltics, and Vostochnaya Stevedoring Company in the Russian Far East) and two container terminals in Finland (Multi-Link Terminals in Helsinki and Kotka).
The company also owns inland container terminals Yanino Logistics Park and Logistika-Terminal , both located in the vicinity of St. Petersburg, and has a 50% stake in the major oil products terminal Vopak E.O.S. in Estonia.
Delo companies provide cargo transhipment and bunkering at Novorossiysk on the Black Sea and operates two port terminals and five inland terminals.
APM Terminals also has a 30.75% stake in Global Ports, which is unchanged by the sale.