Global Ports Sells Logistika-Terminal to PJSC TransContainer
By Aiswarya Lakshmi
Wednesday, August 16, 2017
Global Ports Investments PLC announced that First Container Terminal Inc., one of the Group’s sea terminals, has signed an agreement to sell its 100% shares in JSC Logistika-Terminal (LT), one of the Group’s two inland terminals, to PJSC TransContainer for a consideration of 1.9 billion Russian rubles to be paid upon completion of the transaction.
The transaction will allow the Group to optimize its inland terminal network focusing on the Yanino terminal, a modern multipurpose inland terminal in the vicinity of St. Petersburg.
The Group intends to use the proceeds of the sale for further deleveraging, a key strategic priority. The transaction is subject to approval of relevant regulatory authorities.
LT is an inland container terminal near St. Petersburg providing a wide range of container freight station and dry port services.
LT was launched in 2010 and was primarily intended to provide an off-dock facility for marine terminals customers and increase their service offering, including stuffing and un-stuffing of containers, longer-term storage, and the ability to temporarily store large volumes of containers.
In 2016 LT handled 174 thousand TEU and 320 thousand tons of bulk cargo.