Imperial Logistics International is selling its European shipping business to Häfen und Güterverkehr Köln for €225m as it looks to expanding its business in Africa.
Headquartered in Duisburg, Germany, the shipping business operates inland waterway transportation in Europe and, since 2014, also in South America, providing services in the areas of dry bulk, liquid, chemicals and gaseous products.
Imperial Logistics said it will retain its interest in the South American shipping business on a stand-alone basis but will remain available for sale.
The buyer, Häfen und Güterverkehr Köln – owned by Stadtwerke, City of Cologne and Rhein-Erft-Kreis – operates a variety of logistics services, covering port operations, warehousing, inland waterway shipping and railway transport in Germany, the Netherlands, Belgium and France.
Imperial Logistics, which acquired the European shipping business in 1999, said the sale of the business is part of its plan to align its core strategic focus of growing its footprint in Africa.