COSCO Shipping Ports has agreed to purchase a 51% stake in Noatum Ports for €203m (US$227m), with Ocean Alliance cargo already beginning to switch to its terminals in Valencia and Bilbao.
Once the deal is completed, current majority shareholder TPIH Iberia will hold the remaining 49% stake.
Major assets of Noatum Ports include Noatum Container Terminal Valencia (NCTV), Noatum Container Terrminal Bilbao (NCTB), Conterail Madrid and Noatum Rail Terminal Zaragoza (NRTZ).
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