A.P. Moller Capital has agreed to acquire Portek International from Japanese trading company Mitsui & Co. in a transaction whose financial terms have not been disclosed. The deal marks another step in the investment firm’s expansion across the ports and logistics sector, adding an established terminal operator with activities spanning three continents.
Headquartered in Singapore, Portek holds interests in seven ports across Algeria, Gabon, Indonesia, Latvia, Malta and Vietnam. Alongside its terminal operations, the company provides port engineering, operational management and maintenance services. Its business supports a range of international trade flows through a diversified network of port assets and local operating teams.
According to A.P. Moller Capital, Portek’s terminals collectively handle approximately 700,000 containers, 7 million tonnes of bulk cargo and 90,000 vehicles annually. The company employs around 1,400 people.
A wider approach to port and logistics expansion
The proposed acquisition follows a series of investments by A.P. Moller Capital. The firm announced an agreement to acquire a majority stake in Euroports Group last month. In August also, it agreed to buy a majority stake in Globex Investments.
The inclusion of Portek would help to boost its position in the port infrastructure and logistics sector with a combination of existing terminal operations, engineering expertise and opportunities to enhance performance across its portfolio.
“The company fits well with the firm’s investment strategy and active ownership philosophy,” said Semih Gökmen, partner at A.P. Moller Capital.
“Portek is a good fit with our investment strategy and active owner philosophy. “It is a well-established business with a diversified portfolio of port operations supporting key trade flows across three continents and supported by experienced local operating teams. “We have a strong base in ports and logistics to work with the Portek team, build on the existing capabilities of the business and support its next phase of development.”
Kim Thagaard Pedersen, director at A.P. Moller Capital, also pointed to the opportunity to build out the company’s existing platform alongside its management and local teams.
Portek is a differentiated ports platform with entrenched positions across its markets. “We see significant potential to further develop its existing capabilities and work closely with the management and local operating teams to support its ongoing development.”
The development of Portek while owned by Mitsui
Mitsui bought Portek in 2011, outbidding rival bidder ICTSI with a $180 million takeover offer. The Japanese group put money into the modernization of the terminal operator’s activities while it was owned by them.
One such example was the deployment of a new terminal operating system at Riga Universal Terminal in March 2025 as part of wider initiatives to upgrade operational capabilities.
Further investment across the Portek network is required. With the concession for Valletta Gateway Terminals approaching the last decade in Malta, the company is seeking to develop shore-power and upgrade equipment. Gabon’s country port authority has called for more investment in the Port-Gentil Portek port concession.
These projects indicate the infrastructure development requirements that will fall to the new owner, and are aimed at improving the company’s operational performance.
Operational efficiency and emission reduction under the spotlight
“Upon completion of the transaction, A.P. Moller Capital will build on Portek’s existing capabilities and support its next stage of development.” Priorities include improving operational performance and advancing emissions reduction planning.
The proposed acquisition is still subject to the satisfaction of closing conditions and receipt of required regulatory approvals. The transfer of ownership is only completed when these conditions have been met.
