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COSCO SHIPPING Ports Limited
COSCO SHIPPING Ports Limited

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COSCO SHIPPING Ports Limited Acquisition of Interest in Noatum Port Holdings in Spain

Date:2017-06-12     Publish:本站

 

 
COSCO SHIPPING Ports Limited (“COSCO SHIPPING Ports” or the “Company”) is pleased to announce that on 12 June 2017, CSPL SPV, a wholly-owned subsidiary of the Company, entered into the Sale and Purchase Agreement (“Agreement”) with TPIH in connection with the purchase of 51% of the shares of Noatum Port Holdings, S.L.U. (“NPH”) Total considerations amounted to €203.49 million. Major assets of NPH include NCTV, NCTB (being two container terminals), Conterail Madrid and NRTZ Zaragoza (being two facilitative rail terminals).
 
The Company pursues its stated strategies of “developing a global terminals portfolio”, “strengthening control and management of the ports and terminals business” and “bringing into full play the synergies with the container fleets of China COSCO Shipping Corporation Limited (“COSCO SHIPPING”), the ultimate controlling company of the Company, and OCEAN Alliance”. The Transaction is a perfect strategic fit to the stated strategies. After the completion of the Transaction, the Company will have a controlling interest in NPH, furthering the Company’s efforts in extending its networks over the Mediterranean and European areas. NCTV and NCTB (being two container terminals) will enjoy business supports from COSCO SHIPPING’s container fleet and OCEAN Alliance, the Company will effectively leverage on such synergistic advantages to create value for Shareholders.
 
NCTV is the biggest container terminal with stable volume and business in the Port of Valencia. The Port of Valencia is one of the top three container ports in the Mediterranean. The immediate hinterland within a 350 kilometres radius of the Port of Valencia accounts for nearly 50% of Spanish GDP. The port acts as the main gateway for the Iberian Peninsula and the natural port of Madrid, the capital of Spain. Due to its location, the port is well situated to act as a West Mediterranean transshipment hub.
 
NCTB is the sole container terminal in the Port of Bilbao. It is one of the largest and most modernised container terminals of the Atlantic region of Southern Europe. It serves as the ideal gateway for the transportation of containers throughout the Iberian Peninsula and Southwest of France.
 
Conterail Madrid and NRTZ Zaragoza can improve the connection between the hinterland and the foreland, help creating more efficient logistics chain for operators and shippers, and channel their products through the ports of Valencia and Bilbao. Among the two, NRTZ Zaragoza is located in one of the biggest rail logistic centres of the Iberian Peninsula, and is one of the most important intermodal rail hubs of the Spanish general public rail network.
 
Since April 2017, OCEAN Alliance has begun to switch from other terminals to NCTV and has started a feeder service in NCTB.
 
The Company is confident that NPH will have a prosperous future.
 
For the details of transaction, please refer to the announcement in the Company’s website (http: //ports.coscoshipping.com)