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APM Terminal buys out Grup Maritim TCB for $1bn

APM Terminal buys out Grup Maritim TCB for $1bn
APM Terminals has entered into a new agreement to buyout the remaining 39% stake in Grup Maritim TCB from Spain’s Perez y Cia, after an earlier acquisition in September of a 61% majority share.

As a result, APM Terminals has agreed to acquire 100% of the issued shares of Grup Maritim TCB under a deal valued at approximately $1bn. The transaction is expected to close in the first quarter of 2016.

On 8 September, APM Terminals inked a deal to buy the 61% stake in Grup Maritim TCB, paving the way for the AP Moller-Maersk terminal arm to control 11 terminals in Europe and Latin America.

In the short term the acquisition will be ROIC (return on invested capital) dilutive due to ongoing investments in Guatemala and other growth markets, APM Terminals noted.

“The complementary expertise and market geography of the Grup Maritim TCB portfolio will enable us to bring more value to our clients, achieve our growth ambitions and further diversify our global portfolio,” said Kim Fejfer, ceo of APM Terminals.

Grup Maritim TCB has 11 container terminals with an annual throughput capacity of 4.3m teu and an estimated annual container volume of 3.5m teu.

APM Terminals believes that the acquisition will help the company establish a stronghold in Spain at a time when market recovery is expected, strengthen its position in high growth markets of Latin America, provide access to a new experienced talent pool, facilitate knowledge transfer between the two organisations and generate immediate earnings.

This latest portfolio expansion of the APM Terminals Global Terminal Network increases the number of operating facilities to 74 in 40 countries across five continents.