APM sells Virginia container terminal


APM Terminals has announced that a partnership comprising affiliates of investment funds will purchase APM’s container terminal in Portsmouth, Virginia, US.

The partners involved in the sale are Alinda Capital Partners and Universities Superannuation Scheme (USS).

Alinda Capital Partners is a US-based firm specialising in infrastructure investments in the US and abroad.

USS is the largest private sector pension fund in the UK and is a long-term investor with a global infrastructure portfolio.

Christian Moller Laursen, CFO of APM Terminals, said: “We have chosen to sell our Portsmouth terminal because we are a non-operating lessor of the facility to the Commonwealth of Virginia for the next 16 years.”

The transaction is subject to standard regulatory approvals and is expected to close during Q3 in 2014. It will be renamed ‘Virginia International Gateway.’

APM Terminals Virginia is a deep-water marine container terminal that employs remote-controlled, rail-mounted gantry cranes that can handle container yard operations in a safer, smarter, more eco-friendly manner.

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