Azernews.Az

By Alexei Anishchuk, REUTERS

APM Termnials, the ports arm of Denmark's A.P. Moller-Maersk (MAERSKb.CO) said on Monday that it will buy a 37.5 percent stake in Golbal Ports (GLPRq.L) from a Russian private transportation group N-Trans, Global Trans said in a statement.

The deal follows Russia's accession to the World Trade Organisation, and is the largest foreign direct investment in Russia's transportation sector to date, the company said.

APM Terminals will run the company on an equal basis with N-Trans, also referred to as Transportation Holdings Limited (TIHL), each owning 37.5 percent with 25 percent being listed in London.

Global Ports, formerly controlled by N-Trans, owns container terminals in Russia, on the Pacific and Baltic Sea costs, and in Finland.

The acquisition will bring Global Ports' share capital to $2.3 billion, the statement said, with acquired the stake being worth roughly $860 million, according to Reuters calculations.

"Global Ports will continue to be focused on the high growth markets of Russia, CIS and the Baltic States and will become the growth platform for APM Terminals and N-Trans in the region," the statement said.

Global Ports accounts for 30 percent of the total container volumes in Russian ports and 23 percent of the total exports of fuel oil from the former Soviet Union countries. Global Ports operates container ports in the Baltic and Far East, Russia's key cargo hubs.