Yilport Holding, part of Turkey’s Yildirim Group, has agreed with Portugal’s Mota-Engil Group and Novo Banco to acquire 100% of the shares of Portuguese port management company, TERTIR.
The €335m (US$374m) deal includes Tertir’s portfolio of port terminals and forwarder/support services businesses located across Europe and Latin America.
Tertir’s portfolio comprises eight container terminals with a combined annual handling capacity of 2.7m teu. Overall, it operates ten port terminals: seven of which are in Portugal, two in Spain and one in Peru.
The facilities in Portugal include the concessionaires Liscont and Sotagus, in the Port of Lisbon; TCL in the Port of Leixões (Oporto); Socarpor in Aveiro with two concessions; Sadoport and Tersado in Setúbal and a Liscont operation in Figueira da Foz.
The terminals in Spain include the Ferrol Container Terminal in Galicia and Concasa in Huelva, Andalucía.
Yilport will also own a 50% share of the Terminales Portuarios Euroandinos in Port the of Paita, Peru, the second largest port in terms of container movements and the main port in the north of the country.
Following the completion of this acquisition, Yilport Holding will reach a total annual container handling capacity of 10m teu and an annual dry bulk handling capacity of 22m tonnes, whilst maintaining its current capacities for liquid cargo and roll-on roll-off (ro-ro) operations.
The Turkish firm stated that it is “ideally positioned to continue its steady growth over the next ten years to become one of the top ten international port terminal operators in the world”.
According to the company, Yilport Holding is now expected to be ranked amongst the world’s top 20 international container terminal operators.