ANKARA: Yilport Holding has finalized the acquisition of Tertir, a Portugal-based port and logistics group with container and bulk terminals in Europe and South America. The Turkish port operator agreed in September to pay 335 million euros ($368.5 million) for 100 percent of Tertir’s stock held by domestic shareholders Mota-Engil group and Novo Banco.
The acquisition adds 10 terminals to Yilport’s fast expanding global portfolio — seven in Portugal, two in Spain and one in Peru — with a combined annual container capacity of 2.7 million 20-foot-equivalent units and around 4.5 million tonnes (4.96 million tons) of break bulk and grain handling capacity.
The deal increases Yilport’s network to 20 terminals in seven countries — including facilities in Turkey, Sweden, Norway and Malta — with an annual container capacity of 10 million TEUs and a dry bulk capacity of 22 million tonnes.
Yilport is a unit of the privately-held Yildirim Group, a broadly based industrial and transport conglomerate, which has a 24 percent stake in France’s CMA CGM, the world’s third-largest ocean carrier.