APM Terminals (APMT) has reached an agreement to purchase the remaining 40% of its facility in Aarhus, Denmark, from its joint venture partner (JV) Aarhus Service Holding A/S.
The transaction, the price of which was not disclosed, will give APMT full ownership of the facility.
The current business entity was created in August 2010, when APM Terminals Aarhus and Cargo Service A/S, which is a subsidiary to Aarhus Service Holding A/S, combined their adjacent facilities in a 60/40 JV.
The JV, in which APMT is currently the majority shareholder, is now operating as APM Terminals-Aarhus A/S.
Joe Nicklaus Nielsen, vice president and head of port investments for APMT, said in a company statement that the acquisition reflected the company’s confidence in the Danish market and goal to expand its Scandinavian profile.
“We see growth opportunities and are looking to extend the reach of APM Terminals-Aarhus to inland markets,” Wim Lagaay, chairman of the APM Terminals-Aarhus A/S board and head of APMT’s Europe and USA portfolio, commented in a statement.
The last majority owner of Aarhus Service Holding A/S is lawyer and businessman Andreas Lehmann, with the former investment and advisory firm C.P. Dyvig & Co. A/S being a co-investor in the company.
Container throughput at Aarhus has grown by a total of 11% in the past four years, from 399,000 teu in 2012 to 442,000 teu last year.