An investment fund connected to the Danish family behind Maersk, one of the world’s largest shipping lines, is in the process of acquiring a majority stake in Valletta Gateway Terminals – the Grand Harbour cargo operation handling much of Malta’s trade flows.

The deal is part of a wider acquisition process after the family’s A.P. Møller Capital signed an agreement to purchase Portek International from Mitsui & Co.

Portek International is a Singaporean firm employing 1,400 people with medium-sized terminal operations in Algeria, Gabon, Indonesia, Latvia, Vietnam and Malta.

Mitsui, one of Japan’s largest and most diversified groups of companies, had acquired Portek back in 2011.

Portek owns 55 per cent of the shares in Valletta Gateway Terminals, which holds a 30-year concession from the Maltese Government. The remaining 45 per cent is held by Tumas Group.

The acquisition is subject to regulatory approval, with Malta’s Office for Competition informing the market on Friday (today) about the deal.

The structure of the deal is that Portek will be acquired by EMIF II Holding VIII Cooperatief, a subsidiary of A.P. Møller Capital – Emerging Markets Infrastructure Fund II K/S, which is an investment fund managed by A.P. Møller Capital.

A.P. Møller Capital is an infrastructure fund manager focused on infrastructure investments in critical transportation, logistics and energy assets. It forms part of the broader A.P. Møller Group, chaired by Robert Maersk Uggla.

The Maersk family’s entry into the Maltese maritime infrastructure space follows moves by other global giants such as CMA CGM, which holds a significant stake in the Freeport, and MSC Cruises, which operates the Palumbo Shipyard in a 50/50 joint venture with the Neapolitan Palumbo Group.

Speaking to sister portal MaltaCEOs.mt, Chairman of the Association of Tractor and Trailer Operators Joseph Bugeja said the transaction is of key interest to Malta’s logistics sector, pointing out that some 55,000 trailers pass through VGT every year, delivering much of Malta’s food and other imports.