Yilport adds ten terminals to portfolio

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Turkey’s Yilport Holding is expanding its portfolio with the acquisition of Portuguese port management company, Tertir, and its 10 port terminals across Europe and Latin America.

Yilport will take over Tertir’s 10 terminals, seven of which are in Portugal, two in Spain and one in Peru

Under the agreement with Portugal’s MOTA-ENGIL Group and NOVO BANCO, Yilport will take over Tertir’s 10 terminals, seven of which are in Portugal, two in Spain and one in Peru. The eight container terminals have an annual handling capacity of 2.7 million teu, while the two break bulk and grain terminals have an annual capacity of approximately 4.5 million tonnes.

“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,” said Robert Yuksel Yildirim, chairman, Yilport Holding.

Yilport says Tertir represents an important strategic move for the company, being the market leader in Portugal and a referenced strategic partner in the Portuguese economy, whilst also occupying a strong position in port terminal operations influential to both the North and South Atlantic trading routes. Yilport says Portugal is also in the perfect position to benefit from the anticipated increase in trade via the Panama Canal.

Following the completion of this acquisition, Yilport’s terminal network will increase to 17 operations across seven countries throughout Europe and Latin America. The operator will reach a total annual container handling capacity of 10 million teu and an annual dry bulk handling capacity of 22 million tonnes, whilst maintaining its current capacities for liquid cargo and ro-ro operations.

The port terminals in Portugal include the concessionaires Liscont and Sotagus, in the Port of Lisbon; TCL in the Port of Leixões (Oporto); Socarpor in Aveiro with two concessions; Sadoport and Tersado in Setúbal and a Liscont operation in Figueira da Foz. The port terminals in Spain include the Ferrol Container Terminal in Galicia and Concasa in Huelva, Andalucía. As a result of this investment, YILPORT will also own a 50% share of the Terminales Portuarios Euroandinos in Port the of Paita, Peru, the second largest port in terms of container movements and the main port in the north of the country.

The transaction is expected to close by the end of this year and is subject to certain conditions precedent, including relevant regulatory approvals.