Independent journal on economy and transport policy
12:47 GMT+1
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The Board di Forth Ports exhorts the shareholders to accept the offer of takeover of Arcus
The British harbour group has archived item 2010 with a profit of clearly 45,1 million pounds (+21.6%)
March 22, 2011
The board of directors of the harbour company British Forth Ports has decided unanimously to exhort the shareholders of the society to accept the advanced offer of takeover from Arcus European Infrastructure Fund 1 ( on 7 March 2011).
"The offer of the Arcus - the president of Forth Ports has explained today, David Richardson - offers to the shareholders of Forth Ports the opportunity to cash convert their investment on the base of a fair price. Moreover it is comforting that this Scottish society of success will continue to being guided from Scotland. Forth Ports is proud of its history and is trusting that the society and employee its can continue to have happened under a motivated private property".
Simon Gray, partner of Arcus, have confirmed that Forth Ports will constitute ulterior a precious dowel of the pocketbook of investments of Arcus in the European infrastructural field and that "Arcus is engaged to maintain to the role of Forth Ports which harbour operator British key with center in Scotland and to work with its customers, employee its and its management for the follow-up of the success of the society".
The offer, than currency Forth Ports about altogether 760 million pounds (between vital emitted and to emit), is formulated today officially by Otter Ports, new society integrally controlled from Arcus European Infrastructure Fund 1.
While the group Forth Ports has archived item 2010 with a profit of clearly 45,1 million pounds on revenues for 181,9 million pounds, with increments respective of 21.6% and 4.6% on the exercise anniversary precedence. The operating profit is piled to 69,5 million pounds (+72.5%) and the profit before taxes to 56,3 million pounds (+19.8%).
Last year the revenues of the group deriving from the sun harbour activities have grown of 2% to 157,4 million pounds. Such increment is effect mainly of the acquisition of 50% of the capital stock of the Ocean society Ltd Terminal. (OTL), yielded from the Uberior Ventures Ltd. (filial of the Bank of Scotland), that it has happened at the end of 2009 and which Forth Ports has become only owner.
In the 2010 enlivened harbour traffic from the British group it has been of 20,9 million tons (+5%) with exclusion of the oil terminals of Hound Point and Braefoot Bay in which it is piled to 23,5 million tons regarding 26 million tons in 2009. Altogether last year the traffic has totaled therefore 44,4 million tons (- 3.5%).
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