12 Apr 2018 08:30
2138007WMNVQAVLMP351
This announcement contains inside information for purposes of the EU Market Abuse Regulation
For immediate release 12 April 2018
TIHL completes sale of
30.75% stake in Global Ports Investments Plc to Delo Group
Global Ports Investments PLC ("Global Ports" or the "Company", together with its subsidiaries, the "Group"; LSE ticker: GLPR) today announces that it has been informed by Transportation Investments Holding Limited ("TIHL") that TIHL has completed the sale of its 30.75% stake in Global Ports to LLC Management Company "Delo" ("Delo Group") announced on 20 December 2017. Delo Group is one of the largest private transportation and logistics holding companies in Russia, consolidating assets in container and grain segments and providing tugboat and bunkering services in the port of Novorossiysk in the Black Sea Basin. Delo Group also offers multimodal freight forwarding services using its own inland terminals, warehouses and flatcars. An overview of Delo Group can be found at http://delo-group.com/upload/iblock/a41/Delo-Group_Overview.pdf.
Furthermore, the Group has been informed that in connection with the transaction, Delo Group has acceded to the shareholder agreement with APM Terminals B.V. and that TIHL has been released from its obligations under such agreement.
Following the completion of the transaction, the following directors resigned from the Board: Mr. Nikita Mishin, Mr. Mikhail Loganov, Mr. Konstantin Shirokov and Ms. Elia Nicolaou with immediate effect. New members of the Board will be offered for election at the next AGM to be held on 14 May 2018, along with the existing directors offered for re-election.
Morten Engelstoft, Chairman of the Board of Directors of Global Ports Investments PLC and CEO of APM Terminals, commented: "We are looking forward to a constructive relationship with Delo Group as our new strategic partner in Global Ports. Delo Group has a remarkable track record in the Russian port industry and we are committed to working with them to cement Global Ports' position as a leading player in the Russian container industry. We are looking forward to a mutually beneficial partnership as co-controlling shareholders of Global Ports, which will allow us to tap into the future growth potential of the Russian market.
We would also like to take this opportunity to thank TIHL for the fruitful partnership that we have had building Global Ports' platform over the last six years, including the successful acquisition of NCC, which strengthened the Group's position as a world-class operator."
Sergey Shishkarev, the President and owner of Delo Group commented: "I am very glad to be making our first investment in a publicly listed company with international standing - a new milestone for Delo Group. We aim to bring our twenty-five years of experience in the Russian transportation industry to further strengthen Global Ports' performance. We see a great opportunity ahead through our cooperation with APM Terminals and are aligned with the Group's governance structure and corporate strategy with its focus on deleverage."
ENQUIRIES
Global Ports Investor Relations
Mikhail Grigoriev / Tatiana Khansuvarova
+7 495 989 4769
+7 916 991 7396
Email: ir@globalports.com
Global Ports Media Relations
Anna Vostrukhova
+7 495 989 4769
E-mail: media@globalports.com
Teneo Blue Rubicon
Zoё Watt / Doug Campbell
+44 20 7240 2486
E-mail: globalports@teneobluerubicon.com
NOTES TO EDITORS
Global Ports Investments PLC
Global Ports Investments PLC is the leading operator of container terminals in the Russian market.
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[1] and Moby Dik[2] in the Russian Baltics, and Vostochnaya Stevedoring Company in the Russian Far East) and two container terminals in Finland[3] (Multi-Link Terminals in Helsinki and Kotka). Global Ports also owns inland container terminals Yanino Logistics Park[4] and Logistika-Terminal[5], both located in the vicinity of St. Petersburg, and has a 50% stake in the major oil products terminal Vopak E.O.S.[6] in Estonia.
Global Ports' Revenue for 2017 was USD 330.5 million and Adjusted EBITDA was USD 201.6 million*. Consolidated Marine Container Throughput was 1,205 thousand TEU in 2017.
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 76 ports and 117 inland services facilities, giving the company a global presence in 59 countries. 20.5% of Global Ports shares are traded in the form of global depositary receipts listed on the Main Market of the London Stock Exchange (LSE ticker: GLPR).
For more information please see: www.globalports.com
APM Terminals
At APM Terminals, our aim is to be port services and container terminal solution provider of choice to our customers. We take a continuous improvement approach to operations and service delivery in order to provide the most efficiency to customers' supply chains. We invest in and optimize our portfolio to be in the locations where consumers need us most.
We are a part of A.P. Moller-Maersk, the world's largest integrator of container and port logistics.
For more information please see: www.apmterminals.com
Delo Group
Delo Group is one of the largest private transportation and logistics holding companies in Russia. The Group offers a full range of services in the port of Novorossiysk, including stevedoring, tug boats and vessels bunkering ("DeloPorts"). The Group also offers multimodal freight forwarding services using own inland terminals, warehouses, flatcars ("RUSCON"). Delo Group operates two port terminals and five inland terminals and employs a workforce of 2,600 people.
The Group has made over USD 300m of investment into the development of terminals and port infrastructure since 2004. Currently its stevedore assets offer over 3.5MT of throughput capacity at its KSK grain terminal and over 350,000 TEUs of capacity at its NUTEP container terminal.
For more information, please see: www.delo-group.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", "believe", "anticipate", "estimate", "intend", "will", "could," "may" 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.
[1] In which Eurogate currently has a 20% effective ownership interest.
[2] In which Container Finance currently has a 25% effective ownership interest.
[3] In each of which Container Finance currently has a 25% effective ownership interest.
[4] In which Container Finance currently has a 25% effective ownership interest.
[5] In August 2017 the Group signed an agreement to sell its 100% shares in LT. The transaction is subject to approval of relevant regulatory authorities.
[6] In which Royal Vopak currently has a 50% effective ownership interest.