The Euroports terminals and logistics group has been acquired (via an unnamed subsidiary) by Monaco-based R-Logitech SAM and two public Belgian venture capital companies
Euroports handles an annual 60 Mt through 26 marine terminals, six dedicated customer sites, six inland terminals and 16 forwarding offices. About half of its seaport terminals - handling dry and liquid bulk, breakbulk and containers - are in Belgium, with Antwerp the stronghold. The others are spread across Europe and Asia. The group boasts an aggregate 4.8 Mt of storage capacity and 34 kms total quay length and has around 3,000 employees. It includes former leading brands such as Westerlund, Manuport and Rauma Stevedoring.
In its very concise press release, R-Logitech SAM writes that it is buying Euroports "together with institutional investors," without naming them. Belgian media state that they are the public venture capital investment companies FPIM and PMV. FPIM/SFPI (Société Fédérale de Participations et d’Investissement) is a federal vehicle of the state of Belgium. PMV (Vlaamse investeringsmaatschappijen) is that of the state of Flanders.
It is not clear to what extent these public investment bodies have previously invested outside Belgium and its Flanders province.
The Belgian financial industry publication De Tijd reported in December last year that FPIM and PMV were involved in an offer together with an unnamed Cypriot investment company. At this time, WorldCargo News has no information on this party’s identity.
R-Logitech is an international logistics and technology services provider focused mainly on the natural resources sector. The group’s primary business lines are logistics, terminal management, technology solutions and procurement. Africa is a particular focus and the group also has European offices in Paris, Vienna, London and Monaco.
R-Logitech is a subsidiary of Monaco Resources Group S AM, a global firm specialising in natural resources with a diversified asset base that spans metals and minerals, agribusiness, energy, logistics, technology and finance.