Global Ports complete NCC Group takeover

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  • Enlarged group creates Eastern Europe’s largest terminal operator

Global Ports Investments has successfully completed the US$1.6 billion acquisition of rival Russian operator the NCC Group.

The 100 percent share purchase, first announced in September last year, will see the creation of not only the largest container terminal operator in Eastern Europe but a new edition to the world’s top-20 global operators.

“We are delighted to have completed such an important transaction, one that is an historic step for Global Ports, and which moves the Group into the big league of major global container terminal operators,” declared Nikita Mishin, chairman of Global Ports.

“Our combined group will hold an enviable position in the high-growth Russian container market and will have an unrivalled ability to provide the best quality of service to our customers.”

The enlarged Global Ports will operate nine container terminals, located in both the Baltic Sea and Far East Basins, with a combined container handling capacity of approximately 4 million TEU. In 2012, NCC Group’s handling capacity was estimated at approximately 1.69 million TEU.

To finance the acquisition, Global Ports raised $238 million under a secured term loan agreement. In addition, the terms for some of the company’s existing debt portfolio have been renegotiated.

Mishin added that Global Ports will use the next 12 months to focus on the integration of NCC in order to “realise the synergy potential of the transaction as well as on the swift deleveraging of our balance sheet”. Upon completing the transaction, Global Ports’ share capital was increased to 573,170,731.

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