A.P. Moller-Maersk is looking to divest its 30.75% stake in Russian port operator Global Ports Investments due to Russia’s invasion of Ukraine, Maersk’s port unit APM Terminals said.

Global Ports’ shareholders include Russian state nuclear company Rosatom and Russian businessman Sergey Shiskarev. The firm is listed on the London Stock Exchange and runs six terminals in Russia and two in Finland.

“We have today informed our joint venture partners and GPI, that we wish to take steps to divest our shares following the invasion of Ukraine and the operational challenges,” APM Terminals said in a statement.

Maersk earlier this month temporarily suspended cargo shipments to and from Russia.
Source: Reuters