APM Terminals announces new acquisition

APM Terminals has reached agreement with Perez y Cia to acquire their majority stake in Barcelona-based Grup Maritim TCB, and its maritime services’ container terminal portfolio in Europe and Latin America.

The Grup Maritim TCB portfolio includes 11 container terminals with an annual throughput capacity of 4.3m TEUs. The transaction is expected to close by the end of the year and is subject to certain conditions precedent, including relevant approvals.

Grup Maritim TCB operates terminal concessions across Spain including Barcelona, Valencia and Castellon, along with the concessions in Gijon, on the Bay of Biscay, 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 (expected to open 2016); Buenaventura, Colombia, and Paranagua, Brazil.

This latest portfolio expansion of the APM Terminals Global Terminal Network increases the number of operating facilities to 73, in 40 countries across five continents.