A.P. Moller Capital has signed an agreement to acquire 100% of Portek International from Mitsui & Co. The deal stage is agreed; completion remains subject to customary conditions. The amount was not disclosed in the sources.
Portek is a Singapore-based cargo ports operator and engineering business with interests in seven port terminals across Africa, Asia and Europe. According to the announcement, its terminals handle around seven million tonnes of bulk cargo, 700,000 containers and around 90,000 vehicles each year, and the group employs approximately 1,400 people across its operations and headquarters.
A.P. Moller Capital said the acquisition is aligned with its focus on transportation and logistics infrastructure and builds on its deep sub-sector experience in ports. The buyer said it looks forward to working with Portek's management and local teams to build on the company's existing capabilities and support its next phase of development.