News

Rigas Universalais Terminals sells majority in terminal to Portek International

Universalais Terminals, the sole shareholder of a major Latvian port operator Rigas Universalais Terminals (RUT) has sold 80% of the port’s shares to Portek International. The transaction closed on April 16, 2013.

RUT is the fifth largest port operator by volume of cargo in the freeport of Riga, handling more than
2.5 million tons of general and bulk cargoes annually. RUT is also the second largest container terminal in Riga Freeport, having handled 77,000 TEUs in 2012.

Headquartered in Singapore, Portek, a subsidiary of Mitsui & Co., is a global medium-sized terminal operator and port equipment engineering solutions provider, with offices in over 10 countries throughout Africa, Europe and Asia.

The Mitsui & Co., Ltd was incorporated in Japan on 25 July 1947, which is a veritable household name with more than 130 years of history. Together with its subsidiaries, it operates one of the world’s most diversified comprehensive trading, investment, and service companies.

Superia Corporate Finance acted as the sole financial advisor to Universalais Terminals in the transaction. Other transaction details remain confidential.