APM Terminals has agreed to purchase full ownership of Barcelona-based Grup Maritim TCB and its maritime servicesâ€™ container terminal portfolio in Europe and Latin America.
The deal, with a transaction US $1 billion, comprises of the remaining 39% of shares of Grup Maritim TCB from parent company Perez y Cia. APM Termainals previously acquired 61% of Grup Maritim TCB from Perez y Cia in September.
The Grup Maritim TCB portfolio includes 11 container terminals with an annual throughput capacity of 4.3 million TEUs and an estimated annual container volume of 3.5 million TEUs, ranking 23rd in the 2014 among international terminal operating companies.
APM Terminals CEO Kim Fejfer said â€œThis 100% share agreement reflects a major milestone in paving the way for closing this deal and expanding our competitive offerings for our clients. 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.â€
The transaction is expected to close in the first quarter of 2016.