A.P. Moller Capital is set to purchase Singapore-headquartered port operator Portek International from Mitsui & Co., expanding its infrastructure portfolio with seven terminals serving markets in Africa, Asia and Europe.
The acquisition will be made through A.P. Moller Capital’s Emerging Markets Infrastructure Fund II, which will take full ownership of Portek. Completion remains dependent on regulatory clearances and other third-party approvals.
Portek manages multipurpose port facilities in Algeria, Gabon, Indonesia, Latvia, Malta and Vietnam. Its operations handle around seven million tonnes of bulk cargo, 700,000 containers and 90,000 vehicles each year.
Established in 1988, the business additionally delivers port engineering, operations and maintenance services, with its principal bases located in Singapore and Indonesia.
Once the deal has closed, A.P. Moller Capital intends to collaborate with Portek’s current management and operational teams to strengthen performance, workplace safety and environmental practices. This work will also include planning to reduce emissions across the port logistics business.
Semih Gökmen, partner at A.P. Moller Capital, said: “It is an established business with a diversified portfolio of port operations serving important trade flows across three continents, supported by experienced local operating teams.”
The transaction will add to A.P. Moller Capital’s existing logistics investments, including AC Logistics in the Philippines and Bergé Logistics, whose activities extend across Spain and Latin America.
The investment firm has also recently entered into agreements to purchase controlling interests in Globex Investissement and Euroports.