APM Terminals announced the sale of its
5% share in Terminal de Contêineres de Paranaguá (TCP) to China Merchants Port
Holdings today. The share sale was initiated and led by Advent, who is the
controlling shareholder of TCP. Price and terms were not disclosed and the
share sale is subject to the normal reviews and condition precedents. In March
2016, APM Terminals had acquired the 5% share in TCP as part of the Grup
Maritim TCB acquisition, says APM Terminals.
In Brazil, APM Terminals maintains a
strong port and landside offering to supply chains with ports in Itajai, Pecem
and Santos that are integrated with inland services in Itajaí, Itapúa and
Paranagua. Strategy-wise, the 5% share sale in Paranagua is deemed a small
share in a port that is not operated or owned by APM Terminals and the exit
reflects the company’s broader portfolio management strategy to focus on core
assets and divest non-core assets.