Delo Buys 30.7 Pct Stake in Global Ports Investment
- Business & Finance
Transportation Investments Holding Limited (TIHL) has reached a deal to sell its 30.75 pct stake in Global Ports Investments PLC to Management Company Delo, a holding company of Delo Group, Russia’s transportation and logistics major.
“We did not hesitate a second when taking the decision to enter the transaction. We highly rate the potential of our cooperation with Global Ports, will use our extensive experience in the transportation industry and will apply maximum efforts to support the company’s development in its markets of presence,” Sergey Shishkarev, the President and the owner of Delo Group, commented.
“We are delighted to welcome Delo as our potential strategic shareholder. Delo has an impressive track record in the Russian port industry and operates in the Black Sea Basin where Global Ports is not currently represented,” CEO of Global Ports Management LLC, Mikhail Loganov, said.
The closing of the transaction remains subject to various conditions, including antitrust clearances. The sale is expected to complete in April 2018. Once completed, the group will be co-owned by Delo, Maersk Group’s port terminal company APM Terminals and Russia’s N-Trans.
Global Ports Investments operates five marine container terminals in Russia, two marine container terminals in Finland and two inland terminals in the St. Petersburg region.
Delo specializes in consolidating assets in the container and grain segments and provides tugboat and bunkering services in the port of Novorossiysk in the Black Sea Basin.