A.P. Moller Capital, the investment management company under A.P. Moller Group, has announced that it has agreed to acquire Singapore-based Portek International from Mitsui & Co., continuing to build its ports and logistics investment portfolio. A.P. Moller Capital currently has about USD 2 billion in assets under management.

Portek is a cargo port terminal operator and engineering company with interests in seven port terminals in Africa, Asia and Europe. Founded in 1988, it operates a geographically diversified portfolio of multipurpose terminals serving local and international trade flows, with terminal interests in Algeria, Gabon, Indonesia, Latvia, Malta and Vietnam. Portek also mainly provides port engineering and operations and maintenance services in Singapore and Indonesia. Its terminals handle about 7 million tonnes of bulk cargo, 700,000 containers and about 90,000 vehicles annually.

Semih Gökmen, a partner at A.P. Moller Capital, said that Portek is highly aligned with the company’s investment strategy and active ownership philosophy. It is a well-established business with a diversified portfolio of port operations serving important trade flows across three continents and supported by experienced local operating teams.

The investment gives A.P. Moller exposure to fast-growing cargo markets such as Vietnam. Portek is an indirect shareholder of the owner/operator of Vietnam International Container Terminals (VICT), the flagship container port project in Ho Chi Minh City. In addition, Portek manages terminals in Latvia, Indonesia and Malta, and has a terminal site in Algeria and two terminals in Gabon.