APM Terminals to Sell Rotterdam Terminal to Hutchison Ports
- Business & Finance
The Netherlands-based terminal operator APM Terminals, a subsidiary of Maersk Group, has signed a letter of intent to divest its container terminal APM Terminals Rotterdam.
The terminal will be sold to another international port operating group, Hong Kong’s Hutchison Ports, which owns the adjacent ECT Delta terminal located in the Port of Rotterdam.
As informed, the parties have agreed that APM Terminals Rotterdam will continue to exist as an independent organization with a 5-year volume guarantee from the parent company, A.P. Moller-Maersk, and no forced redundancies within 4 years of signing the agreement.
“Under the ownership of Hutchison Ports, APM Terminals Rotterdam will have the opportunity to grow into a leading, modern, future-proof terminal,” APM Terminals said in a statement.
The Dutch company added that Hutchison Ports has expressed interest in talking to the Port of Rotterdam Authority for an extension of the lease.
As explained, the Works Council has been asked for advice about the possible 100 percent sale of shares in APM Terminals Rotterdam to Hutchison Ports. Consultations will also be held with trade unions about the intended sale, according to APM Terminals.
In addition, the duo will have to seek approval from the relevant competition authorities before the sale is completed.
Operational since October 2000, APM Terminals Rotterdam has an annual capacity of 3.25 million TEUs and is one of the largest container terminals in Europe. It is is a major transshipment center for the British, Irish, Scandinavian and Baltic markets.