PSA Intl takes first steps in Eastern Europe
Port operator PSA International has joined forces with Australian investment management firm IFM Investors and the Polish Development Fund (PFR) to acquire the Port of Gdańsk’s Deepwater Container Terminal Gdańsk (DCT Gdańsk), Poland’s biggest box terminal.
PSA International, PFR and the IFM Investors-managed IFM Global Infrastructure Fund have signed a deal to acquire 100% of the Polish facility’s shares from Macquarie Infrastructure and Real Assets, the Motor Trades Association of Australia Superannuation Fund (MTAA Super), AustralianSuper and Statewide Super.
The release said that to permit additional development of the terminal, PSA International, PFR and IFM Investors will look into building a new expansion area and further capacity increases.
DCT Gdańsk, the sole deep-water container terminal in Poland and the Baltic Sea basin, constitutes one of the 15 biggest container ports on the European continent and claims to be is one of Europe’s fastest-growing container ports, as well as being the only terminal in the Baltic able to serve ultra large container ships. Last year, its container volumes hit 1.9m teu.
“The new owners support DCT Gdańsk’s ambitious expansion plans, including construction of a new terminal in the coming years to utilise and leverage economic growth of Poland and Central and Eastern Europe,” Paweł Borys, PFR chief executive, commented on the acquisition.
Tan Chong Meng, PSA International’s group chief executive, said that DCT Gdańsk constitutes PSA International’s first investment in Eastern Europe.
“Through leveraging our global network and our expertise in creating value for the port and shipping communities, PSA International will partner with shipping lines, logistics operators and cargo owners to deliver more efficient, flexible and robust supply chain solutions for the region,” he said.
Speaking on behalf of the outgoing shareholders, Martin Stanley, global head of Macquarie Asset Management, said: “We are proud of the role we’ve played in the development of Poland’s burgeoning maritime and logistics sector through investment in DCT Gdańsk.
“The close partnership between Macquarie, MTAA Super, AustralianSuper, Statewide Super and the port’s management team has seen DCT Gdańsk become an important gateway for Poland to the rest of the world.
“We leave the business well positioned to serve the needs of this dynamic region and wish the new shareholders well as they embark on the next phase of the port’s growth story.”
The acquisition agreement is subject to formal approval by the relevant competition authorities.
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