Global Ports To Consolidate Russian Terminals
Global Ports Investments PLC (“Global Ports” or the “Company” and, together with its subsidiaries and joint ventures, the “Group”) (LSE ticker: GLPR) announces that it had entered into binding agreements with CMA Terminals on cash free shares swap: in exchange for 25% of Multi Link Terminals Ltd Oy, Finland, the Group will receive 25% of CD Holding Oy, Finland, and 25% of Multi Link Terminals Ltd, Ireland, which own Yanino Logistics Park (LP) and Moby Dik (MD) respectively.
This will allow the Group to concentrate its full control over Russian terminals and to ensure its flexibility in creating value on rapidly changing Russian stevedoring market. The Group’s share in Finnish Ports will decrease from 75% to 50%.
Reference: Global Ports