The investment banking company Macquarie Group has signed an agreement with PSA International, the Polish Development Fund (PFR), and the IFM Global Infrastructure Fund to sell 100% shares in the 3.0m TEUs/year-big Deepwater Container Terminal Gdańsk.
The deal, unofficially valued at €1.1b, is subject to formal approval by the relevant competition authorities.
While the joint PSA-PFR-IFM press release doesn't mention the share breakdown the partners will enjoy, the Polish media report that the state-owned PFR will hold a 30% stake.
"DCT Gdańsk is PSA's first investment in Eastern Europe, and we look forward to working closely with our partners PFR and IFM to further develop its facilities and to strengthen its position as the preferred port of call for Poland and the Baltic Sea. Through leveraging our global network and our expertise in creating value for the port and shipping communities, PSA will partner with shipping lines, logistics operators and cargo owners to deliver more efficient, flexible and robust supply chain solutions for the region," Tan Chong Meng, Group CEO, PSA International, commented.
To this Paweł Borys, CEO, PFR, added, "We are pleased that we managed to successfully complete the acquisition of a special asset - the only deep-water container terminal in Poland and the entire Baltic Sea basin. I believe that the unique combination of local and international content, as well as PSA's operational know-how will reinforce DCT Gdańsk for further growth. The new owners support DCT's ambitious expansion plans, including construction of a new terminal in the coming years to utilize and leverage economic growth of Poland and the CEE."
"We are delighted to further consolidate our existing partnership with global leader in port operations, PSA, and join leading Polish fund PFR, whose insight into the Polish market has been invaluable to the consortium. The transaction also marks another investment for IFM in a core infrastructure asset in Poland, expanding upon our long-standing presence in the country," Kyle Mangini, IFM Investors Global Head of Infrastructure, also commented.
Martin Stanley, Global Head of Macquarie Asset Management - speaking on behalf of the outgoing shareholders, MIRA, MTAA Super, AustralianSuper, and Statewide Super - underlined, "We are proud of the role we've played in the development of Poland's burgeoning maritime and logistics sector through our 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."
Photo: DCT Gdańsk