APM Terminals completes acquisition of Grup Maritim TCB

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
APM Terminals completes acquisition of Grup Maritim TCB

APM Terminals has recently announced it has completed the US$1 billion acquisition of 39% shareholder of Spanish Grup Maritim TCB’s port and rail interests.

On 8 September 2015, APM Terminals announced the agreement with Perez y Cia to acquire their majority share (61%) in Grup Maritim TCB. Later, in October 2015, APM Terminals announced the agreement to purchase the remaining 39% shareholder. As a result, APM Terminals has acquired 100% of the issued shares.

APM Terminals has yet to receive approval for 3 of 11 terminals which are under the Grup Maritim TCB management, but APM Terminals has decided to move ahead with the acquisition, as the remaining terminals constitute less than 5% of the value of the acquisition.

The acquisition adds 8 ports with a combined 2 million TEU equity-weighted volumes to APM Terminals, expanding the network to 72 operating ports, across 69 countries.

The acquisition complements APM Terminals portfolio in key locations in Spain:

  • Barcelona
  • Valencia
  • Castellon
  • Gijon

Outside of Spain, Grup Maritim TCB’s terminal operations include:

  • Yucatan, Mexico
  • Quetzal, Guatemala (under construction)
  • Buenaventura, Colombia, on the Pacific Coast
  • Paranagua, Brazil.

APM Terminals will invest an estimated USD $400 million over the next five years in upgrades and expansion to these operations.

APM Terminals CEO Kim Fejfer, said:

“We are excited to complete the acquisition of Grup Maritim TCB and look forward to working together with our new colleagues. The acquisition expands our position in Spain and accelerates our growth in Latin America. While growth in Latin America has slowed overall, Colombia, Mexico and Guatemala are outperforming the rest of the continent and we believe offer exciting short and medium term opportunities.”

Joe Nicklaus Nielsen, APM Terminals Vice President for Port Investments, added:

“We are continuing to pursue the acquisition of TCB’s Turkish and Canary Island terminals and are confident we will be able to provide satisfactory responses to the regulators’ questions in Turkey in due course. However, as these assets make up less than 5% of the value of the acquisition, we have decided to move ahead with the acquisition to capitalize on the significant momentum we have been building towards the closure of the deal.”

List of country news

Country news

  • March 10, 2016

    Slim announces takeover bid to acquire FCC

    Carlos Slim’s Inversora Carso has made a bid to acquire the stake in the Spanish construction company FCC it doesn’t already own. Read more
  • March 03, 2016

    OHL sells stake in light rail concession

    OHL Group has announced that it has sold the majority of its stake in the concessionaire Metro Ligero Oeste SA. Read more
  • February 25, 2016

    Yilport Holding acquires Tertir portfolio of 10 port terminals

    Yilport Holding has closed the acquisition of 100% of the shares of the Portuguese port management company, Tertir. Read more
  • February 24, 2016

    Suez may be interested in the acquisition of Urbaser

    Suez Environnement may be interested in the acquisition of Spain's Urbaser, which is owned by ACS Group. Read more
  • February 22, 2016

    Korea´s Mirae asset securities to invest 111.6m on infrastructure in Spain

    Mirae Asset Global Investments, a South Korea’s asset management firm, is looking for investors for a new fund aimed to infrastructure investments in Spain.  Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.