A.P. Moller Capital to acquire full ownership of Portek

Photo: A.P. Moller Capital

The agreement was signed on October 15 through A.P. Moller Capital's Emerging Markets Infrastructure Fund II. Portek is a Singapore-based cargo ports operator and engineering business with interests in seven port terminals across Vietnam, Indonesia, Latvia, Malta, Algeria, and Gabon.

Founded in 1988, Portek operates a geographically diversified portfolio of multipurpose terminals serving local and international trade flows. It also provides port engineering and operations and maintenance services, principally from Singapore and Indonesia, and employs approximately 1,400 people across its operations and headquarters. Its terminals handle around seven million tonnes of bulk cargo, 700,000 containers, and around 90,000 vehicles each year.

Portek holds 49 per cent of the share capital of Mitorient Holding Pte Ltd, making it an indirect shareholder of First Logistics Development Company, which owns and operates Vietnam International Container Terminal, the premier container port project in Ho Chi Minh City.

Following completion, A.P. Moller Capital intends to work closely with Portek's local operating teams to build on the company's existing capabilities and support its next phase of development, focusing on operational performance, governance, safety, capital discipline, and environmental performance, including emissions-reduction planning.

Semih Gökmen, partner at A.P. Moller Capital, said, "Portek is a strong fit with our investment strategy and active owner philosophy. It is an established business with a diversified portfolio of port operations serving important trade flows across three continents, supported by experienced local operating teams. Our domain expertise across ports and logistics gives us a strong foundation from which to work with the Portek team, build on the company's existing capabilities and support its next phase of development."

A.P. Moller Capital expand portfolios in logistics and transportation AP Moller Capital, a global institutional fund manager investing in critical infrastructure, announced an investment in and strategic partnership with ALS Cargo Terminal on September 3 through its second institutional fund, AP Moller Capital - Emerging Markets Infrastructure Fund II.

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