Mærsk makes major purchase in Latin America

A.P. Møller-Mærsk’s port division, APM Terminals, has taken over Grup Maritim TCB and its 11 port terminals

AP Møller-Maersk has purchased Grup Maritim, the world’s 23rd largest port operator, which has 11 ports in Spain, Turkey and Latin America. The deal is worth several billion kroner and most of the ports are in Spanish-speaking countries. Once approved, the Danish company’s terminal division will have 74 ports in 40 countries.

Grup Maritim was founded in 1972 and has been the private property of the Perez-Maura family. Last year, the company handled about 2 million containers. By comparison, APM Terminals handled 38 million containers.

“Robust financial performance and balance put APM Terminals in a strong position to make an investment of this type in a volatile market and pursue growth opportunities – both organic and through acquisitions,” said chief executive, Nils S Andersen.

Major capacity increase
The 11 new ports add a capacity of 4.3 million containers and an annual volume of 3.5 million containers.

“This acquisition supports our growth plans,” said Andersen.

Latin America has been a strategic focus of AP Møller-Mærsk for a while. The company has made several other investments, including a major joint venture in Colombia.

Stig Frederiksen, an analyst at Nordea, said the acquisition was a solid one for AP Møller-Mærsk.

“It gives them access to attractive areas,” Frederiksen told Berlingske. “Spain is an area that has come back from the economic crisis relatively quickly, and the Latin American market should continue to grow in the long term.”

A good fit
AP Møller-Mærsk would not disclose the price of the deal, but the group has a stated goal that all investments must generate a return of 10 percent.

Kim Fejfer, the administrative head of APM Terminals, said the Spanish company is a good fit for AP Møller-Mærsk.

“It is one of the best-run companies in the market,” said Fejfer. “The company has a reputation for good service and a professional staff.”

READ MORE: Maersk Group posts record profits

The company expects to complete the deal by the end of the year. It must first be approved by several authorities.

TOP STORIES

  • Bestselling author of ‘The Year of Living Danishly’ Helen Russell on why she moved back to the UK after 12 years

    Bestselling author of ‘The Year of Living Danishly’ Helen Russell on why she moved back to the UK after 12 years

    After more than a decade living in Denmark, Russell shares why she made the move, how she’s coping, what she already misses, and the exciting new projects she’s working on. “It’s been a very tough decision. I love Denmark, and it will always hold a special place in my heart,” she says.

  • Denmark launches first AI supercomputer

    Denmark launches first AI supercomputer

    The new Gefion AI supercomputer is one of the world’s fastest and will accelerate research and provide new opportunities in Danish academia and industry.

  • Navigating big love, big moves and big feelings

    Navigating big love, big moves and big feelings

    Experts believe it takes seven years to move into a new culture, according to leading Danish psychologist Jette Simon and therapist Vibeke Hartkorn. For expat couples, the challenges of starting a new life together in Denmark can put pressure on relationships, but emotions-focused therapy can help.

  • More and more Danes are working after retirement age

    More and more Danes are working after retirement age

    Politicians debate a lot these days about when you can retire. The reality shows that an increasing number of Danes like to work, even if they can withdraw from the labor market. Financial incentives help.

  • Environmental activist fears death in prison if extradited to Japan

    Environmental activist fears death in prison if extradited to Japan

    Canadian-born environmental activist Paul Watson has been in prison in Greenland for almost 100 days awaiting an extradition decision for a 14-year-old offence against a Japanese whaling vessel that he calls a “minor misdemeanor”. The 73-year-old had previously passed through Ireland, Switzerland, Monaco, France and the USA without trouble, before Greenlandic police arrested him in July.

  • Denmark too slow to ease recruitment rules for non-EU service workers, say industry associations

    Denmark too slow to ease recruitment rules for non-EU service workers, say industry associations

    When the Danish government in January presented the first of its schemes to make it easier to recruit foreign labour from outside the EU, it was hailed by the healthcare and service sectors as a timely and important policy shift. But while healthcare changes have been forthcoming, the service sector is still struggling, say the directors of the industry association Dansk Industri and one of the country’s largest private employers ISS.

Connect club

Connect Club is your gateway to a vibrant programme of events and an international community in Denmark.

Sign up here

Career

  • Come and join us at Citizens Days!

    Come and join us at Citizens Days!

    On Friday 27 and Saturday 28 of September, The Copenhagen Post will be at International Citizen Days in Øksnehallen on Vesterbro, Copenhagen. Admission is free and thousands of internationals are expected to attend

  • Diversifying the Nordics: How a Nigerian economist became a beacon for inclusivity in Scandinavia

    Diversifying the Nordics: How a Nigerian economist became a beacon for inclusivity in Scandinavia

    Chisom Udeze, the founder of Diversify – a global organization that works at the intersection of inclusion, democracy, freedom, climate sustainability, justice, and belonging – shares how struggling to find a community in Norway motivated her to build a Nordic-wide professional network. We also hear from Dr. Poornima Luthra, Associate Professor at CBS, about how to address bias in the workplace.

  • Lolland Municipality launches support package for accompanying spouses

    Lolland Municipality launches support package for accompanying spouses

    Lolland Municipality, home to Denmark’s largest infrastructure project – the Fehmarnbelt tunnel connection to Germany – has launched a new jobseeker support package for the accompanying partners of international employees in the area. The job-to-partner package offers free tailored sessions on finding a job and starting a personal business.

Want to advertise your job with CPH Post?

Contact us

Jobs