COSCO Shipping Ports has bought APM Terminals’ (APMT) 76% majority stake in the existing APMT Zeebrugge container terminal for €35m (US$41m), giving it the full shareholding.
The purchase follows multiple key investments made by the Chinese state-owned terminal operator in Europe over the last few years including in Piraeus, Vado and Euromax Terminal Rotterdam.
As part of the transaction, APMT has proposed to buy back 25% of the Shanghai International Port Group’s (SIPG) shares and will then sell them together with its own 51% stake in Zeebrugge to COSCO.
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