Management Company Delo, a holding company for Delo Group, that consolidates marine terminals (grain, containers and port services) in the port of Novorossiysk, 3PL operations and certain other assets (“Delo”), today announces that it has entered into an agreement with Transportation Investments Holding Limited ("TIHL") to buy its 30.75% stake in Global Ports Investments PLC (“Global Ports”).
Closing of the transaction remains subject to various conditions, including antitrust clearances and satisfaction of other conditions customary for such transactions. The sale is expected to complete in April 2018.
Sergey Shishkarev, the President and the owner of Delo Group commented: “We did not hesitate a second when taking the decision to enter the transaction. We highly rate the potential of our cooperation with Global Ports, will use our extensive experience in the transportation industry and will apply maximum efforts to support the Company’s development in its markets of presence. We are aligned with the Group’s current strategy and its governance principles.”