APMT agrees to pay compensation for Quetzal concession
APM Terminals (APMT) has agreed to pay US$43m in compensation to the Guatemalan government after the company inherited a concession which was allegedly obtained through bribery.
The concession to operate Quetzal Container Terminal (TCQ) was awarded to Spanish company Grup TCB in 2013. The concession was then inherited by APMT when the company bought all the shares in Grup TCB in March 2016.
In April 2016, the terminal’s director Juan Jose Suarez Meseguer and Grup TCB’s former majority shareholder Angel Perez Maura Garcia-Botin were both accused, by an alleged former accomplice, of using bribery to obtain the concession.
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