STOCKHOLM, August 29. /TASS/. A. P. Moller - Maersk completed its exit from the Russian market and sold its stake in Russia’s Global Ports, the Danish shipping and logistical company said on Monday.
"A.P. Moller-Maersk’s (Maersk) terminals business, APM Terminals (APMT) has entered into an agreement to divest its 30.75% shareholding in Global Ports Investments PLC (GPI) to long-standing partner Delo Group," Maersk said in its press release.
"We are pleased that we have now concluded this transaction according to the plan and with our long-standing partner Delo, enabling us orderly exit from GPI in line with our decision to discontinue activities in Russia," said Keith Svendsen, the CEO of APM Terminals. The transaction amount is not disclosed.
Following the divestment of shares in Global Ports, "APMT will no longer be involved in any entities operating in Russia or own any assets it the country," the company added. The transfer of share ownership will take place after receipt of regulatory approvals.