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Yilport acquires Portuguese port management firm

Yilport acquires Portuguese port management firm

LISBON: Yılport Holding has completed the acquisition of Portuguese port management firm Tertir from Mota-Engil Group and Novo Bonco, for €335m.

The company acquired Tertir’s ten port terminals and forwarder/support services business situated across Europe and Latin America. Seven of the ten port terminals are located in Portugal, two in Spain and one in Peru.

According to Yilport, eight container terminals have an annual handling capacity of 2.7 million TEUs, while the two break bulk and grain terminals have an annual capacity of about 4.5 million tons.

Under the deal, Yilport has also acquired a 50% stake in the Terminales Portuarios Euroandinos in Port the of Paita, Peru. It is claimed to be the second largest port in terms of container movements and the main port in the north of the country.

At the time of acquisition, Yilport Holding chairman Robert Yuksel Yildirim said: “Since entering the port operation 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 included in the Top 20 International Container Terminal Operators.”

As the deal, concluded, Yilport is now expected to have a annual container handling capacity of 10 million TEUs and an annual dry bulk handling capacity of 22 million tons. It is also involved in liquid cargo and Ro-Ro operations.