Acquisition, subject to regulatory approval, will see creation of largest port operator in the Baltic region
Global Ports Investments, of which APM Terminals is a co-controlling shareholder, has today announced that it has entered into a binding agreement to acquire 100 percent of Russian terminal operator NCC Group Limited.
The acquisition of Moscow-based NCC Group is subject to regulatory approval by relevant authorities.
NCC Group’s container terminal operations are located on the Baltic Sea, and its key assets include 100-percent ownership of St. Petersburg’s First Container Terminal, 80 percent ownership of the recently launched Ust-Luga Container Terminal in the port of Ust-Luga and 100-percent ownership of Logistika-Terminal, an inland container terminal located close to St. Petersburg which serves primarily as an inland container yard for First Container Terminal.
In 2012, NCC Group’s marine terminals’ annual container handling capacity was approximately 1.69 million TEU.
Global Ports intended acquisition of NCC is financed through a combination of a cash consideration, new shares representing approximately 18 percent of the enlarged share capital of Global Ports and assumption of NCC debt, leading to a combined enterprise value of approximately US$1.5 billion.