APM Terminals has reached an agreement with joint venture partner Aarhus Service Holding for the purchase of the remaining 40% of the existing APM Terminals-Aarhus A/S facility, strategically-located on the Jutland Peninsula, in Denmark’s busiest port.
The current business entity and ownership structure was created in August 2010, when APM Terminals Aarhus and Cargo Service A/S (subsidiary to Aarhus Service Holding A/S) combined their adjacent facilities in a 60/40 joint venture now operating as APM Terminals-Aarhus A/S, in which APM Terminals is the majority shareholder. The transaction will give APM Terminals full ownership of the facility. The purchase price was not disclosed.
Joe Nicklaus Nielsen, Vice President and Head of Port Investments for APM Terminals said
“This acquisition reflects our confidence in the Danish market and our goal to expand our Scandinavia profile.”
The Port of Aarhus is close to the industrial center of Western Denmark, and is Denmark’s second-largest city by population. With a depth of 15 meters, four super post-Panamax cranes and three post-Panamax cranes, APM Terminals Aarhus A/S is able to accommodate Ultra-Large Container Ships (ULCS) and feeder vessels alike.
Søren Halsted, chairman of Aarhus Service Holding A/S, adds:
“After a successful coownership of APM Terminals – Aarhus, it is pleasing for us to sell our shares to our business partner. This is the last part in the divestment of our port activities, and the sale marks the end to the Lehmann family’s involvement in the Danish transport industry – an involvement dating back to 1900.”
The last majority owner of Aarhus Service Holding A/S is lawyer and businessman Andreas Lehmann who lives in London. C.P. Dyvig & Co. A/S is co-investor in Aarhus Service Holding A/S.
Container throughput at Aarhus has grown consistently over the past four years by an aggregate total of 11% from 399,000 TEUs in 2012, to 442,000 TEUs in 2015, while many other European gateway ports have seen traffic stagnate or decline.
Source & Image credit: APM Terminals
