APM Terminals buys Panama Canal Railway from CPKC and Lanco Group

A.P. Moller – Maersk part APM Terminals has purchased the Panama Canal Railway Company (PCRC) from Canadian Pacific Kansas City (CPKC) and the Lanco Group/Mi-Jack.

PCRC is simply a 76km railway adjacent to the Panama Canal and is portion of Panama’s logistics network.

It offers freight and rider services crossed the isthmus of Panama betwixt the Atlantic and Pacific Oceans.

CPKC president and CEO Keith Creel said: “We are pleased to person completed this transaction with APM Terminals, a portion of A.P. Moller - Maersk, a cardinal strategical spouse of CPKC’s and large lawsuit of the Panama Canal Railway Company.

“The merchantability of this non-core plus creates worth for our shareholders and reflects our committedness to optimise our assets arsenic we absorption connected increasing our halfway North American obstruction concern done our unrivalled three-nation web connecting Canada, the United States and Mexico.”

PCRC, established successful 1998 arsenic a associated task betwixt CPKC and Lanco Group/Mi-Jack, reported revenues of $77m and an EBITDA of $36m successful 2024.

APM Terminals CEO Keith Svendsen said: “The Panama Canal Railway Company represents an charismatic infrastructure concern successful the portion aligned to our halfway services of intermodal instrumentality movement.

“The institution is highly regarded for its operational excellence and volition supply a important accidental for america to connection a broader scope of services to the planetary shipping customers we serve.”

Financial advisory services for the transaction were provided by BofA Securities and Lazard Frères, with Sullivan & Cromwell offering ineligible counsel.

Last month, Patriot Rail and CPKC announced that they volition make a multi-commodity transload installation connected CPKC’s web successful Denton, Texas, to heighten logistics services successful the Dallas–Fort Worth area.

"APM Terminals buys Panama Canal Railway from CPKC and Lanco Group" was primitively created and published by Railway Technology, a GlobalData owned brand.

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