A.P. Moller Capital to Acquire Portek International from Mitsui & Co.
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A.P. Moller Capital announced an agreement to acquire feeder container terminal operator Portek International from Mitsui & Co., for an undisclosed amount. According to the Copenhagen-based fund, the acquisition of 100% of the company will be carried out through its Emerging Markets Infrastructure Fund II.
Portek's Profile
Portek, headquartered in Singapore and founded in 1988, holds interests in seven terminals across Algeria, Gabon, Indonesia, Latvia, Malta and Vietnam, in addition to providing port engineering, operations and maintenance services. The company employs around 1,400 people, and its terminals handle 700,000 containers, 7 million tonnes of bulk cargo and 90,000 vehicles each year.
The group's assets include Bejaia Mediterranean Terminal in Algeria, Riga Universal Terminal in Latvia, Valletta Gateway Terminals in Malta, and operations at the Indonesian port of Tanjung Priok.
History Under Mitsui
Mitsui had taken control of Portek in 2011. According to Seatrade Maritime, the Japanese trading company outbid a rival offer from ICTSI at the time with a $180 million proposal, while Splash 247 reports that ICTSI ultimately withdrew its competing bid. Under Mitsui's management, Portek modernized its operations, including the rollout of a new terminal operating system at Riga Universal Terminal in March 2025, while Valletta Gateway Terminals is advancing a shore power development project and Gabon's port authority has called for greater investment in the Port-Gentil concession.
A Streak of Acquisitions
The deal adds to a string of acquisitions by A.P. Moller Capital in the port sector: in September it had agreed to take a 53.35% stake in Thaumas, the holding company behind Euroports, and in August it closed the purchase of a majority stake in Globex Investissement. The fund had also acquired a 51% stake last year in the Spanish group BERGÉ, which operates in Iberia and Latin America, and its portfolio includes AC Logistics in the Philippines. The closing of the Portek acquisition remains subject to customary conditions and regulatory approval.
