APM Terminals to acquire Grup Maritim TCB and its 11 container terminals

APM Terminals has reached an agreement with Perez y Cia to acquire their majority stake in the Barcelona-based Grup Maritim TCB and its maritime services’ container terminal portfolio in Europe and Latin America. Grup Maritim TCB has 11 container terminals with an annual throughput capacity of 4.3 million TEUs and an estimated annual container volume of 3.5 million TEUs. The transaction is expected to close by the end of the year and is subject to certain conditions precedent, including relevant approvals. Terms and price were not disclosed.
Grup Maritim TCB consists of Spanish container terminal concessions in Barcelona, Valencia and Castellon, on the Mediterranean coast, along with the concessions in Gijon, on the Bay of Biscay, and in the Canary Islands: Santa Cruz on Tenerife and La Palma on Gran Canaria. Outside of Spain, Grup Maritim TCB’s terminal operations include Izmir, Turkey; Yucatan, Mexico; Quetzal, Guatemala (under construction, opening 2016); Buenaventura, Colombia, on the Pacific Coast; and Paranagua, Brazil.
APM Terminals CEO Kim Fejfer says “This is an exciting investment for APM Terminals, which adds complementary locations to our portfolio in high growth markets throughout Latin America, in Turkey and a strong gateway presence in Spain. Equally important, Grup Maritim TCB is one of the best run terminal businesses in the market with a history dating back to 1972, when it was first established by the Perez-Maura family in Barcelona. The company has earned a reputation for excellent service and professional people. Being a family company with these attributes makes a combination with APM Terminals a natural fit. I want to thank the Perez-Maura family for entrusting APM Terminals with the legacy of Grup Maritim TCB and look forward to exploring further opportunities of collaborating.”
This latest portfolio expansion of the APM Terminals Global Terminal Network increases the number of operating facilities to 74, in 40 countries across five continents.
Grup Maritim TCB equity-weighted container volume of 2 million TEUs ranked 23rd among global terminal operators in 2014; APM Terminals ranked 3rd with 38.3 million.
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