APM pays $43 million in deal over Guatemala scandal

APM Terminals will pay $43.2 million as part of a deal for a new concession at the Quetzal container terminal in Guatemala, after the global terminal operator was swept up in a bribery scandal that predated its takeover of Quetzal.

The agreement, which also reportedly calls for the installation of a $6 million container scanning system, must receive the approval of the Guatemalan Congress.

Source: Journal of Commerce