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Delo Group has completed the acquisition of a 30.75% stake in Russia-based container terminal operator Global Ports Investments (GPI) from shipping firm AP Moller – Maersk business APM Terminals.

Last month, APM Terminals agreed to divest its stake in GPI as a result of Russia’s military incursion on Ukraine.

The deal has closed following all the required conditions being met.

Due to the deal’s completion, APM Terminals-appointed directors will exit GPI’s board of directors with immediate effect.

With this divestment, the company no longer operates or owns any assets in Russia.

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The agreement, however, provides an option for APM Terminals to re-enter the alliance with Delo in the future.

GPI is a leading container terminal operator in Russia. It owns and operates seven marine container and multipurpose terminals in two important marine container gateways, where it primarily focuses on container handling activities.

An integrated container logistics company, AP Moller – Maersk has operations in 130 countries and provides employment to approximately 95,000 people.

With a network of 75 terminals, APM Terminals handles about 250 vessel calls a day and 12.8 million moves a year.

Last month, APM Terminals secured a bid for the acquisition of UPI-B Cais Sul, a productive unit in the Port of Suape, Pernambuco, Brazil.