Delo Group acquiring 30.75% of shares in Global Ports from APM Terminals

MOSCOW. Aug 29 (Interfax) - Delo Group has signed an agreement with APM Terminals (APMT), an entity of A.P. Moeller-Maersk A/S, to acquire 30.75% of the shares in Global Ports Investments Plc, the group said in a statement.

"The Group and APMT have signed a deal on agreed market terms. This includes the possibility of APMT returning to joint business with the Group in the future," the group said. The deal is subject to all necessary regulatory approvals from the Russian authorities.

Delo Group and APMT are not commenting on the price and other details of the deal.

"Following the announcement of Maersk's commitment to discontinue activities in Russia earlier this year, APMT has now entered into a binding agreement, subject to regulatory approvals, to divest its entire 30.75% shareholding in GPI to APMT's long-standing joint venture partner Delo Group who also owns 30.75% of the shares in GPI," APMT said in a press release.

"With the divestment of its shares in GPI, APMT will no longer be involved in any entities operating in Russia or own any assets it the country. The transfer of share ownership takes place after regulatory approvals have been obtained," APMT said.