APM Terminals has divested its 33% ownership interest in the Medcenter Container Terminal in Gioia Tauro, Italy to the majority owner, which is jointly owned by Contship Italia Group and Terminal Investment Limited. Terms of sale and price were not disclosed, the Company said in a preass release.
APM Terminals had been a one-third equal equity partner in the terminal since 2000 and determined that its minority interest in Medcenter Container Terminal is non-core and therefore divestment of its interest is a strategic move that boosts the focus on the company’s core business.
APM Terminals current Italy footprint includes a new port project in northern Italy, called APM Terminals Vado, a deep-water multi-purpose facility, and the first major new container facility to be built in Italy in decades, scheduled to open in January 2018 with the ability to accommodate vessels of over 18,000 TEU capacity, as well as liquid bulk cargoes and a specialized refrigerated terminal.
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