A.P. Moller Capital announced it has agreed to buy feeder terminal operator Portek International from Mitsui & Co for an undisclosed amount.
Singapore-based Portek has interests in seven ports in Algeria, Gabon, Indonesia, Latvia, Malta and Vietnam, as well as providing port engineering, operation and maintenance services.
The latest deal continues an acquisition spree at A.P Moller Capital, which last month announced an agreement to acquire a majority stake in Euroports Group, and in August agreed to buy a majority stake in Globex Investments.
Portek’s terminals handle a mix of 700,000 containers, 7m tonnes of bulk cargo, and 90,000 vehicles each year, A.P. Moller Capital said. The company employs around 1,400 people.
As the new owner, A.P. Moller Capital said it intends to build on the company’s existing capabilities and support its next phase of development, including a focus on operational performance and emissions reduction planning.
The deal remains subject to closing conditions and regulatory approvals.
Portek became a Mitsui subsidiary in 2011 after the Japanese company outbid rival buyer ICTSI with a $180m takeover bid.Under Mitsui’s ownership, Portek has invested in modernising its terminal operations, including the implementation of a new terminal operating system at Riga Universal Terminal in March 2025. Its operations also face further infrastructure investment requirements, with Valletta Gateway Terminals pursuing shore-power development and equipment upgrades while approaching the final decade of its concession, and Gabon’s port authority has called for further investment under Portek’s Port-Gentil concession.
Semih Gökmen, partner at A.P. Moller Capital, said: “Portek is a strong fit with our investment strategy and active owner philosophy. It is an established business with a diversified portfolio of port operations serving important trade flows across three continents, supported by experienced local operating teams. Our domain expertise across ports and logistics gives us a strong foundation from which to work with the Portek team, build on the company’s existing capabilities and support its next phase of development.”
Kim Thagaard Pedersen, director at A.P. Moller Capital added: “Portek is a differentiated ports platform with established positions across its markets. We see significant potential to build on its existing capabilities and, working closely with the management and local operating teams, to support its continued