Accra:A.P. Moller Capital, a global institutional fund manager, has announced an agreement to acquire the entire stake in Portek International Pte Ltd, a ports operator based in Singapore, from Japan's Mitsui & Co Ltd. This acquisition will be executed through A.P. Moller Capital's Emerging Markets Infrastructure Fund II.

According to BERNAMA News Agency, Semih Gökmen, Partner at A.P. Moller Capital, stated that Portek aligns well with their investment strategy and philosophy of active ownership. Portek is recognized for its diverse portfolio of port operations that facilitate crucial trade flows across three continents, supported by experienced local teams.

A.P. Moller Capital emphasized that the acquisition is consistent with its focus on transport and logistics infrastructure. The company plans to prioritize operational performance, governance, safety, capital discipline, and environmental performance at Portek once the transaction is finalized.

This deal complements A.P. Moller Capital's existing investments, which include Philippines-based AC Logistics and Bergé Logistics, operating in Spain and Latin America. It also follows recent agreements to acquire majority stakes in Globex Investissement and Euroports.

Portek, established in 1988, holds interests in seven port terminals located in Algeria, Gabon, Indonesia, Latvia, Malta, and Vietnam. It provides port engineering and operations and maintenance services, primarily from Singapore and Indonesia. The company employs approximately 1,400 individuals and its terminals handle about seven million tonnes of bulk cargo, 700,000 containers, and 90,000 vehicles annually.

The financial terms of the deal have not been disclosed, and its completion is subject to customary conditions, including regulatory and third-party approvals.