11SEP2017 - APM Terminals to divest Zeebrugge share

Agreement signed with COSCO SHIPPING Ports for sale of 76% majority holding in Belgian port facility.

To our valued customers and business partners, 

APM Terminals and Hong Kong-based COSCO SHIPPING Ports Limited (“COSCO SHIPPING Ports”), a subsidiary of China COSCO Shipping Corporation Limited (“COSCO SHIPPING”), have reached an agreement on the key terms of the proposed sale of APM Terminals’ 76% majority shareholding in the existing APM Terminals Zeebrugge container terminal to COSCO SHIPPING Ports. The acquisition will bring COSCO SHIPPING Ports’ shareholding in the 1 million TEU annual capacity terminal in Belgium’s second-busiest container port to 100%. As part of the transaction, APM Terminals has proposed to buy back 25% of the Shanghai International Port Group (“SIPG”) shares and will then sell them together with APM Terminals’ own 51% stake in Zeebrugge to COSCO SHIPPING Ports. Further details of the transaction have not been disclosed which is subject to customary regulatory approvals - expected to take three to four months for completion.

Full Details http://www.apmterminals.com/en/news/press-releases/2014/12/apm-terminals-to-divest-zeebrugge-share