Global Ports Investments PLC announces that APM Terminals B.V., a global port, terminal and inland services operator, and Transportation Investments Holding Limited, one of Russia's largest privately owned transportation groups, have closed the deal, announced on 10 September 2012, in which APM Terminals agreed to acquire 37.5% of the shares in the company from TIHL, and APM Terminals has now become the joint controlling shareholder of the Company together with TIHL.
As a result of the transaction, from 28 November 2012 each of N-Trans and APM Terminals now owns 88,125,000 of the company’s voting shares (constituting 18.75% of the company’s total issued shares) and 88,125,000 of the Company’s non-voting shares (constituting 18.75% of the company’s issued shares). Thus APM Terminals and N-Trans together own 75% of the company’s issued shares, corresponding to 60% of its voting rights. 25% of the company’s issued shares, corresponding to 40% of the company’s voting rights, are represented by Global Depository Receipts (GDRs) traded on the Main Market of the London Stock Exchange (LSE ticker: GLPR).
Nikita Mishin, Chairman of Global Ports, commented:
“We are delighted to see that APM Terminals’ partnership in developing Global Ports, which represents the largest ever direct foreign investment into the Russian infrastructure sector, has received quick and smooth approvals from the relevant authorities in seven countries. APM Terminals has a wealth of experience in the industry and their international expertise will be of great benefit to our business.”
Kim Fejfer, CEO of APM Terminals, commented
“We are excited to be entering the fast-growing Russian container market which has a promising outlook for long term structural growth. We look forward to working together with N-Trans on the Global Ports platform and being part of this exciting growth opportunity.”