Infrastructure Partnership to acquire APM Terminals Virginia container terminal
APM Terminals Virginia and a partnership comprising affiliates of investment funds managed by Alinda Capital Partners (Alinda) and Universities Superannuation Scheme Limited (USS) announced today that the partnership will purchase APM Terminal’s state - of - the - art container terminal located in Portsmouth, Virginia, the company said in its press release.
The transaction is subject to standard regulatory approvals and is expected to close during the third quarter of 2014, following which the terminal will be renamed as “Virginia International Gateway.” Alinda Capital Partners is a U.S. - based firm specializing in infrastructure investments in the United States and abroad. USS is the largest private sector pension fund in the United Kingdom and is a long - term investor with a global infrastructure portfolio.
Commissioned in 2007 with the most modern automation at that time, APM Terminals Virginia is a deep - water marine container terminal that employs remote controlled rail mounted gantry cranes that handle container yard operations in a safer, smarter, more eco - friendly manner. In 2010, APM Terminals leased the facility to the Virginia Port Authority to tap into VPA’s broader commercial volumes and business needs.
Under the terms of the sale, the partnership will purchase all of the issued and outstanding capital stock of APM Terminals Virginia, Inc., which owns the Portsmouth facility. Neither the customers calling the facility, nor staff, will be affected by the sale .