Information  X 
Enter a valid email address

Global Ports Inv (GLPR)

  Print          Annual reports

Wednesday 03 April, 2019

Global Ports Inv

Sale of GPI's stake in oil products terminal

RNS Number : 9134U
Global Ports Investments PLC
03 April 2019
 

 

 

For immediate release                                                                                                                    03 April 2019

Global Ports Investments PLC

Global Ports announces sale of its stake in oil products terminal

Global Ports Investments PLC (Global Ports, and together with its subsidiaries and joint ventures, "the Group"), (LSE ticker: GLPR) today announces that it and Royal Vopak, the world's largest independent tank storage provider[1], have sold their 100% effective share ownership in AS Vopak E.O.S. (VEOS), to Liwathon. VEOS was a 50/50 joint venture of Global Ports and Royal Vopak. The parties agreed not to disclose the price of the transaction.

The decision to sell VEOS was driven by the Group's strategic focus on opportunities in its core business where the Group sees attractive long-term prospects for itself. The divestment will enable the Group to designate more funds to ongoing deleveraging and to continue developing additional revenue streams.

About AS Vopak E.O.S.

AS Vopak E.O.S., an independent oil products terminal operator in the Baltic states, operates four modern terminals with the total storage capacity of 1,051,800 cbm located in the ice-free Port of Muuga within the Port of Tallinn.

ENQUIRIES

Global Ports Investor Relations

Mikhail Grigoriev / Tatiana Khansuvarova

+357 25 313 475

+7 916 991 73 96

Email: [email protected]

 

Global Ports Media Relations

Anna Vostrukhova

+357 25 313 475

E-mail: [email protected] 

 

Teneo

Zoë Watt / Douglas Campbell

+44 20 7260 2700

E-mail: [email protected]

 

NOTES TO EDITORS

Global Ports Investments PLC

Global Ports Investments PLC is the leading operator of container terminals in the Russian market by capacity and container throughput[2].

Global Ports' terminals are located in the Baltic and Far East Basins, key regions for foreign trade cargo flows. Global Ports operates five container terminals in Russia (Petrolesport, First Container Terminal, Ust-Luga Container Terminal[3] and Moby Dik[4] in the Russian Baltics, and Vostochnaya Stevedoring Company in the Russian Far East) and two container terminals in Finland[5] (Multi-Link Terminals in Helsinki and Kotka). Global Ports also owns inland container terminal Yanino Logistics Park[6] located in the vicinity of St. Petersburg.

Global Ports' revenue for 2018 was 343.6 USD million[7] and Adjusted EBITDA was 217.3 USD million[8]. Consolidated Marine Container Throughput was 1,352 thousand TEU in 2018[9].

Global Ports' major shareholders are Delo Group, one of the largest private transportation and logistics holding companies in Russia (30.75%), and APM Terminals B.V. (30.75%), whose core expertise is the design, construction, management and operation of ports, terminals and inland services. APM Terminals operates a global terminal network of 74 ports and 117 inland services facilities, giving the company a global presence in 58 countries. 20.5% of Global Ports shares are traded in the form of global depositary receipts on the Main Market of the London Stock Exchange (LSE ticker: GLPR).

For more information please see: www.globalports.com

LEGAL DISCLAIMER

Some of the information in these materials may contain projections or other forward-looking statements regarding future events or the future financial performance of Global Ports. You can identify forward looking statements by terms such as "expect", "plan", "project", "believe", "target", "anticipate", "estimate", "intend", "will", "could," "may", "should" or "might" or the negative of such terms or other similar expressions. Global Ports wishes to caution you that these statements are only predictions and that actual events or results may differ materially. Global Ports does not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of Global Ports, including, among others, general political and economic conditions, the competitive environment, risks associated with operating in Russia and market change in the industries Global Ports operates in, as well as many other risks related to Global Ports and its operations. 


[2] Management estimates based on the information published by the Association of Sea Commercial Ports ("ASOP"), www.morport.com and public sources.

[3] In which Eurogate currently has a 20% effective ownership interest.

[4] In which Container Finance currently has a 25% effective ownership interest.

[5] In each of which Container Finance currently has a 25% effective ownership interest.

[6] In which Container Finance currently has a 25% effective ownership interest.

[7] According to the Group's Consolidated Financial Information for 2018.

[8]  Management estimates based on the Group's Consolidated Financial Information for 2018.

[9] According to the Group's operational results.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
DISUUORRKKASRUR

a d v e r t i s e m e n t