Through the acquisition of the majority stake in the Port of Tarragona-headquartered firm a new joint venture will be formed under the P&O Martitime brand. The value of the deal was not disclosed.
The company operates a fleet of 12 vessels and was awarded a long term contract in Equatorial Guinea to support the LNG tanker berthing/unberthing operations at Punta Europa Terminal.
“We have identified the LNG marine sector as one of our core businesses that will help us expand in the future. Independent studies indicate the LNG market is set to double in size worldwide by 2020 and we are confident we can deliver strong long term sustainable growth,” said Rado Antalovic, managing director of P&O Maritime.
Iñigo García, managing director of Repasa said: “This transaction represents a tremendous opportunity for Repasa and will deliver significant incremental growth.
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