APM Terminals sells its Yantian shareholding

- APM Terminals has sold its 9.7% share in China’s Yantian International Container Terminal (YICT) to COSCO Pacific subsidiary Crestway International for US$520m.

According to APMT, the reason for the sale was that being a minority shareholder and only a financial stakeholder while not operating the port, conflicted with APMT’s business model which is geared towards ports where it can operate or can attain a majority share and have more involvement in the management of the port.

The sale, which is subject to approvals, is expected to be finalised on or before July 31, 2010.

(Source: Container Management)