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DCT Gdańsk sold for USD 1.3 bln

Alex Hayes 19 March 2019

Alex Hayes

Journalist

+48 22 356 25 20
alex.hayes@eurobuildcee.com

Alexander Hayes is currently working as a journalist for Eurobuild Central & Eastern Europe magazine. Originally from the UK, he moved to Poland in 1995 and has been working in real estate for over four years. He has a BA in english literature from the University of Buckingham.

DCT Gdańsk sold for USD 1.3 bln
A consortium led by Asian investors has bought the DCT Gdańsk container port
POLAND Singapore investor PSA International, the Polish Development Fund (PFR) and the IFM Global Infrastructure Fund managed by IFM Investors, have signed an agreement to acquire a 100 pct stake in DCT Gdańsk, the largest container terminal in Poland.
The sale estimated at over USD 1.3 bln is subject to regulatory approval. The seller is Macquarie Infrastructure and Real Assets (MIRA) managed fund Global Infrastructure Fund II, MTAA Super, AustralianSuper and Statewide Super.

Construction of the port began in 2005 and following a significant capital expenditure programme, the port’s capacity doubled in 2016 with the completion of a second quay. Container volumes have grown steadily over the years to reach 1.9 mln container units (TEUs) in 2018. DCT Gdańsk is the fastest growing container port in Europe and is ranked amongst the 15 largest container ports on the continent. With a quay length of 1,306m and a maximum depth of 17m, the terminal is well-equipped to handle the largest container vessels.

Tan Chong Meng, the CEO of PSA International, said: “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.”

Paweł Borys, CEO of PFR, said: “We are pleased that we have 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 utilise and leverage economic growth of Poland and the CEE.”

IFM Investors Global Head of Infrastructure, Kyle Mangini, said: “We are delighted to further consolidate our existing partnership with the 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.”

Speaking on behalf of the outgoing shareholders, MIRA, MTAA Super, AustralianSuper and Statewide Super, Martin Stanley, the 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 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.”

DCT Gdańsk is the only terminal in the Baltic that can serve ULCVs (Ultra Large Container Vessels), the world’s largest container ships with a capacity of up to 23,000 TEUs.

To allow for further development of DCT Gdańsk, PSA, PFR and IFM Investors will explore the construction of a new expansion area and further increases in capacity.


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