Sunday , 19 May 2019
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Carlyle Group, one of three interested parties has withdrawn its bid to take over operations at Virginia's state-owned marine terminals. In its original assessment Carlyle's assumed it would be able to run APM Terminals' container facility in Portsmouth which is currently run by VIT the state's operating arm under a 20-year lease. Contractually however, APM must approve any other operator bidding for VIT.

Carlyle withdraws from Virginia bid

As a result of this and a closer examination of the financial feasibility of the bid terms and return on capital, Carlyle has indicated that it no longer wishes to proceed.

Meanwhile, APM which submitted an unsolicited bid last May to take over the operations of the Virginia ports from Virginia International Terminals, and RREEF America, a Deutsche Bank subsidiary are still bidding. The Virginia Port Authority (VPA) has indicated that although initially declaring it will accept bids until November 1, state officials have affirmed an extension to December. 3.

A decision regarding terminal operations could be made in April or May of 2013.