COPENHAGEN, July 22 Port operator APM Terminals,
a unit of Denmark's A.P. Moller-Maersk, said it
would sell a big U.S. container terminal to infrastructure
investor Alinda Capital Partners and a British private pension
The companies, in a joint statement on Tuesday, did not
disclose the price that Alinda and Universities Superannuation
Scheme Limited will pay for APM Terminals Virginia, the
deep-water terminal in Portsmouth, Virginia.
The terminal, which APM describes on its website as the
largest privately owned terminal in North America, was
commissioned in 2007 at a cost of $540 million and later leased
to the Virginia Port Authority.
"Ownership of this terminal does not fit with our global
strategy and ambition to operate and develop ports," APM Chief
Financial Officer Christian Moller Laursen said in the
statement. "We have chosen to sell our Portsmouth terminal
because we are a non-operating lessor."
Lloyd's List, citing a source familiar with the deal, said
the buyers planned to raise $450 million through a private
placement of a bond later this week to help fund the deal.
The deal is expected to close in the third quarter of this
year, and staff at the facility will not be affected, the
APM Terminals operates 65 port and terminal facilities in 39
Its chief executive, Kim Fejfer, said last year it was
investing in fast-growing regions such as Russia and Africa to
compensate for a lack of growth in mature markets.
(Reporting by Sabina Zawadzki; editing by Jane Baird)