Yilport Holding announced today the acquisition of 100% shares of Portuguese terminal operator Tertir. The signing ceremony took place in Lisbon on February 18, 2016. Tertir’s portfolio, comprised of 10 international port terminals has been added to the fleet of Yilport Holding, a YILDIRIM Holding subsidiary. The acquisition also marked the biggest Turkish investment ever in Portugal.
The only Turkish company to be listed among international port operators, Yilport Holding continues its global expansion. The deal to acquire 100% shares of Portuguese terminal operator Tertir was signed on February 18, 2016. Yilport Holding, a subsidiary of YILDIRIM Holding became the owner of 10 international terminals after the acquisition.
The deal worth 300 million Euros also marks the largest ever Turkish investment in Portugal. Yilport Holding reached an agreement with Tertir’s Portuguese shareholders Mota-Engil Group and Novo Banco on its way to acquire Tertir.
Tertir’s portfolio is comprised of 10 port terminals in total: seven of which are in Portugal, two in Spain and one in Peru. Tertir’s eight container terminals have an annual handling capacity of 2.7 million TEUs and the two break bulk and grain terminals have an annual capacity of approximately 4.5 million tons. The deal covering port management privileges also includes Transitex, a forwarding and logistics company.
Yilport Holding currently owns and operates 10 container terminals in Turkey, Sweden, Norway, and Malta. Following the completion of this acquisition, Yilport Holding will reach a total annual container handling capacity of 10 million TEUs and an annual dry bulk handling capacity of 22 million tons, whilst maintaining its current capacities for liquid cargo and Ro-Ro operations. This acquisition will increase Yilport’s global port terminal network to 20 operations across 7 countries throughout Europe and Latin America. Yilport is expected to be included in the 2016 Top 20 International Container Terminal Operators, annually ranked by Drewry.
Yildirim Holding President & CEO Robert Yuksel YILDIRIM, said the following:
“Since entering the port operations and management business in 2005, Yilport has become a global port terminal operator and continues to make steady progress in this sector. As a result of its investments in Turkey and abroad in recent years, Yilport Holding has become the foremost port operating company in Turkey and the only Turkish company to be listed among international terminal operators. Mota-Engil’s Tertir portfolio was in our radar for the past two and a half years, and we finally signed the deal. We are happy to welcome 10 new ports into the Yilport portfolio. Upon completion of the purchase, we will work towards integration of the terminals to the Yilport global network. After the integration, total number of Yilport terminals will reach 20 in 7 countries globally. We set a new goal in 2015 to rise among the top 10 international terminal operators. Towards this goal, we won the tender for Puerto Bolívar in Ecuador. We are committed to conclude the acquisition in the first half of this year, and start operations. We plan to expand our ports and terminals portfolio further in 2016.”
Tertir’s portfolio consists of the following ports and terminals:
- Liscont, Lisbon (Portugal)
- Sotagus, Lisbon (Portugal)
- TCL, Port of Leixões, Oporto (Portugal)
- Socarpor, Aveiro (Portugal)
- Sadoport, Setúbal (Portugal)
- Tersado, Setúbal (Portugal)
- Liscont, Figueira da Foz (Portugal)
- Ferrol Container Terminal, Galicia (Spain)
- Huelva Container Terminal, Andalucía (Spain)
- Terminales Portuarios Euroandinos, Port of Paita (Peru)
Further information:
Kemal Ekin Aysel / Corporate Communications / +90 (212) 290 30 80 / kemal.aysel@yildirimgroup.com
Press release dated Tuesday 23 February 2016
Source: Port Finance International
Source: Port Finance International