A.P. Moller Capital to acquire Singapore-based cargo ports terminal operator Portek

AP Moller Capital has agreed to buy Portek International, a Singapore-based terminal operator and port engineering business, from Japan's Mitsui and Co. The manager announced the deal on October 15. It will acquire all of Portek through its Emerging Markets Infrastructure Fund II (EMIF II). Financial terms were not disclosed, and completion is subject to customary conditions, including regulatory and third-party approvals.

Portek, founded in 1988, holds positions in seven multipurpose terminals across Algeria, Gabon, Indonesia, Latvia, Malta and Vietnam, and employs about 1,400 people. Container Management describes the deal as the manager's third since August.