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A.P. Moller Capital signs deal to acquire Portek International
A.P. Moller Capital, through its Emerging Markets Infrastructure Fund II, has signed an agreement to acquire 100% of Portek International from Mitsui & Co., Ltd.
A.P. Moller Capital has signed an agreement, through its Emerging Markets Infrastructure Fund II, to acquire 100% of Singapore-based Portek International Pte. Ltd. from Mitsui & Co., Ltd. Portek is a cargo ports operator and engineering business with interests in seven port terminals in Algeria, Gabon, Indonesia, Latvia, Malta and Vietnam.
Portek employs about 1,400 people. Its terminals handle around 7 million tonnes of bulk cargo, 700,000 containers and about 90,000 vehicles each year. The company also provides port engineering and operations and maintenance services, principally from Singapore and Indonesia.
A.P. Moller Capital said the acquisition aligns with its focus on transportation and logistics infrastructure and builds on its experience in the ports sub-sector. After completion, it intends to work closely with Portek's local operating teams on operational performance, governance, safety, capital discipline and environmental performance, including emissions-reduction planning.
Completion is subject to customary closing conditions, including receipt of regulatory and other third-party approvals.
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