APM Terminals Sells 50 Percent Stake in Le Havre Venture

Hughes Hubbard & Reed assisted port operator APM Terminals (a member of AP Moller Maersk Group) with the sale of its 50 percent share in Terminal Porte Océane (TPO) and Société d'Exploitation du Terminal Porte Océane to Perrigault SA.

The deal was announced on July 22, 2014; terms of the deal were not disclosed.

APM Terminals and Perrigault operated the container terminal as a 50-50 joint venture in the French port city of Le Havre. TPO signed the concession agreement with Grand Port Maritime du Havre on May 16, 2006, and the terminal started operating in December 2007.

Christian Belloin and Mathilde Ribalet assisted Maersk in the disposal of its shareholdings in JV entities to the Perrigault Group. Cyrille Gaucher also assisted on antitrust issues.