APM Terminals, the ports arm of Denmark's A.P. Moller-Maersk, said on Monday that it would buy a 37.5 percent stake in Global Ports from Russian transportation group N-Trans, Global Trans said in a statement.
The deal 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, each owning 37.5 percent with 25 percent being listed in London.
The acquisition will bring Global Ports' share capital to $2.3 billion, the statement said, with the acquired 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.
(Reuters)
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