A.P. Moller Capital has agreed to acquire a majority stake in Euroports Group, one of Europe's largest bulk and breakbulk terminal operators. The deal adds a major port platform to the infrastructure manager's growing portfolio of transportation and logistics investments.
According to a separate disclosure from shareholder R-Logitech, the transaction covers a 53.35% stake in Thaumas N.V., the company that indirectly owns Euroports. A.P. Moller Capital is making the investment through a separately managed fund vehicle backed by A.P. Moller Holding.
Once the deal closes, A.P. Moller Capital will become Euroports' majority shareholder. Belgian public investment groups SFPIM and PMV will remain shareholders alongside it.
The parties did not disclose financial terms. R-Logitech said the final purchase price will be tied to Euroports' consolidated EBITDA for 2026. Regulatory and other approvals are expected in the first quarter of 2027.
Euroports is a significant player in Europe's non-containerized cargo market:
The group also owns Manuport Logistics (MPL), an independent freight forwarding business active in more than 20 countries. MPL will keep operating under its own brand after the transaction.
A.P. Moller Capital said Euroports' current management structure, governance framework and strategic direction will stay in place. For shippers, forwarders and project logistics teams that rely on Euroports terminals or work with MPL, this signals operational continuity rather than disruption.
The new ownership group also plans to back further growth. Its stated priorities are to broaden Euroports' footprint and attract more customers and cargo volumes.
Kim Fejfer, managing partner and CEO of A.P. Moller Capital, framed the deal around supply chain resilience.
"In a changing world, resilient supply chains and secure trade flows are increasingly essential to economic stability and growth," Fejfer said.
He described Euroports as one of Europe's largest non-containerized port infrastructure operators. Its terminals handle commodities that support European industry, food systems and manufacturing.
For Belgium's public investors, the deal also has a strategic infrastructure angle. SFPIM CEO Koen Van Loo said the fund plans to stay invested as part of its effort to keep important assets anchored in Belgium.
"SFPIM reaffirms its role as a key investor in anchoring strategic assets in Belgium," Van Loo said.
Euroports CEO Frédéric Platini said the new ownership structure gives the company a platform for further expansion.
"This transaction marks the beginning of a new chapter for Euroports, providing a strong basis to continue its growth trajectory, pursue new opportunities and build on the solid foundations that have underpinned its success to date," Platini said.
Euroports is A.P. Moller Capital's second major investment in European port and logistics infrastructure, following its investment in Spain's BERGÉ Logistics. The deal deepens the firm's exposure to European bulk and breakbulk cargo flows.
A.P. Moller Capital is part of A.P. Moller Group and invests mainly in transportation, logistics and energy infrastructure.
Completion of the Euroports transaction remains subject to regulatory and other customary approvals.