PORTSMOUTH, Va. (WAVY) — A Dutch company has agreed to buy APM Terminals in Portsmouth.
According to a spokesperson, the deal was made with Alinda Capital Partners and Universities Superannuation Scheme Limited (USS), and has been in the works for a while. Pending regulatory approval, the deal is expected to close within the next few months.
According to a news release from APM Terminals, Alinda Capital Partners is a company based in the United States that specializes in infrastructure investments. USS is the largest private sector pension fund in the United Kingdom and is a long-term investor with a global infrastructure portfolio.
An Alinda spokesperson said the firm is attracted to the Portsmouth terminal’s state-of-the-art features.
The name will change to Virginia International Gateway. The terms of the sale have not been disclosed. The new company says it will not make any staff changes.