Global Ports and Royal Vopak sold their 100% effective share ownership in AS Vopak E.O.S.
Global Ports Investments PLC today announces that it and Royal Vopak, the world’s largest independent tank storage provider1, have sold their 100% effective share ownership in AS Vopak E.O.S. (VEOS), to Liwathon. VEOS was a 50/50 joint venture of Global Ports and Royal Vopak. The parties agreed not to disclose the price of the transaction.
The decision to sell VEOS was driven by the Group’s strategic focus on opportunities in its core business where the Group sees attractive long-term prospects for itself. The divestment will enable the Group to designate more funds to ongoing deleveraging and to continue developing additional revenue streams.
AS Vopak E.O.S., an independent oil products terminal operator in the Baltic states, operates four modern terminals with the total storage capacity of 1,051,800 cbm located in the ice-free Port of Muuga within the Port of Tallinn.
Global Ports Investments PLC is the leading operator of container terminals in the Russian market by capacity and container throughput2.
Global Ports’ terminals are located in the Baltic and Far East Basins, key regions for foreign trade cargo flows. Global Ports operates five container terminals in Russia (Petrolesport, First Container Terminal, Ust-Luga Container Terminal3 and Moby Dik4 in the Russian Baltics, and Vostochnaya Stevedoring Company in the Russian Far East) and two container terminals in Finland5 (Multi-Link Terminals in Helsinki and Kotka). Global Ports also owns inland container terminal Yanino Logistics Park6 located in the vicinity of St. Petersburg.
Global Ports’ revenue for 2018 was 343.6 USD million7 and Adjusted EBITDA was 217.3 USD million8. Consolidated Marine Container Throughput was 1,352 thousand TEU in 20189.
Global Ports’ major shareholders are Delo Group, one of the largest private transportation and logistics holding companies in Russia (30.75%), and APM Terminals B.V. (30.75%), whose core expertise is the design, construction, management and operation of ports, terminals and inland services. APM Terminals operates a global terminal network of 74 ports and 117 inland services facilities, giving the company a global presence in 58 countries. 20.5% of Global Ports shares are traded in the form of global depositary receipts on the Main Market of the London Stock Exchange (LSE ticker: GLPR).