Porin Satama Oy sold its crane operations to the Dutch companies Olmar Management B.V. and Stichting Depositary PGGM Infrastructure Funds through a business transfer agreement signed on 4 July 2022.
Porin Satama Oy is a wholly owned subsidiary of the City of Pori that began operating as a limited liability company in 2015. Its purpose is to enable the provision of safe, efficient, and reliable port services for the needs of industry, logistics companies, and port operators. Porin Satama's strategic objective is to be the leading port in Western Finland and the most important transportation hub for maritime logistics in the region.
Olmar Management B.V. is a Dutch company focused on owning and operating strategic logistics assets for industrial blue-chip companies, trading houses, and port operators, particularly in commodity-related maritime industries. PGGM is a Dutch non-profit pension fund managing more than EUR 270 billion in pension assets.
As a result of the transaction, Olmar, together with its principal investor PGGM, is establishing a new company in the Port of Pori. The objective is to support and develop business activities in the Pori region over the long term, thereby contributing to the Port of Pori's vision of becoming the leading port in Western Finland.
BDO acted as financial advisor to Porin Satama Oy, managing the sale process and supporting the port's management throughout the negotiations and execution of the transaction.