APM Terminals is on the acquisition trail buying a majority stake in Barcelona-based Grup Maritim TCB giving it 11 terminals in Europe and Latin America.
The terminal arm of AP Moller-Maersk has agreed with Spanish shipping and logistics group Perez y Cia to acquire the majority stake for an undisclosed sum.
Grup Maritim TCB has 11 terminals in Spain, Turkey, Guatemala, Mexico, Colombia and Brazil with estimated annual volumes of 3.5million TEU, and a total capacity of 4.3million TEU.
“This is an exciting investment for APM Terminals, which adds complementary locations to our portfolio in high growth markets throughout Latin America, in Turkey and a strong gateway presence in Spain,” said CEO of APM Terminals, Kim Fejfer.
Grup Maritim TCB CEO, Xavier Soucheiron commented: “This agreement with APM Terminals marks a landmark moment in the Grup Maritim TCB journey. We share the same core values and views on how to build on our market momentum, where to invest in port upgrades and improve the entire TCB portfolio for clients. Together we can achieve even more potential in the APM Terminals family.”
Grup Maritim TCB was founded in 1972 by the Perez-Maura family in Barcelona.
The deal is expected to be completed by year-end and is subject to approvals.
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