Singapore’s PSA International has agreed to acquire a 22% minority stake in Germany’s Duisburg Gateway Terminal GmbH.
Financial terms were not disclosed. The transaction is subject to the approval of Germany’s competition and supervisory authorities.
Located in the Port of Duisburg, Duisburg Gateway will be the first 100% climate-neutral inland container terminal located in the European hinterlands, the PSA said.
The Port of Duisburg is said to be the largest inland port in the world and the leading logistics hub in central Europe.
Upon completion of the transaction, PSA will join Hupac, Dutch HTS Group and Duisburger Hafen AG (Duisport) as shareholders of Duisburg Gateway.
Duisport chief executive Markus Bangen said his company had gained an “important strategic partner” that will “contribute significantly” to the success of the Duisburg Gateway with its various business segments around the world.
“This network expansion strengthens both the competitive diversity and the further diversification of the Port of Duisburg,” he said. “The topic of supply chain diversification has an increasingly important meaning.”
Tan Chong Meng, chief executive of PSA International, said: “As part of Europe’s largest and most sustainable inland port, [Duisburg Gateway] will be a key gateway in providing green logistics services to Germany’s dense industrial hinterland.
“Leveraging PSA’s global ports and supply chain network as well as its strong presence in continental Europe, PSA aims to strengthen the [Duisburg Gateway] partnership and support Germany’s green energy transition in line with our strategic focus towards enabling smoother, more resilient and sustainable trade.”
This transaction is the latest in a series of acquisitions by PSA following a restructuring of itself into two core businesses of ports and cargo solutions.
The state-owned group said the move was in line with its long-term strategy and that its new mid-mile logistics would be its “unique service differentiator”.
In May, the company acquired a strategic minority stake in Vietnam logistics company SOTRANS Group — also known as South Logistics Joint Stock Co — from Indo-Trans Logistics.
One month earlier, it acquired a majority stake of 75% in privately held Turkish company ALISAN Logistics for an undisclosed fee.
It is just over a year ago that PSA completed its acquisition of supply chain, transportation and logistics solutions provider BDP International from New York-based private equity firm Greenbriar Equity Group.
PSA said at the time that BDP’s acquisition adds “strength and depth to its logistics and supply chain offerings beyond the port”.
The company controls more than 60 deepsea, rail and inland terminals across 42 countries, according to its website.
