Cosco Pacific has announced that it has entered into an agreement with ECT Participations, a wholly-owned subsidiary of port operator HPH, to acquire a 35% equity interest in Euromax, the operator of Euromax Terminal Rotterdam in the Netherlands.
Cosco Pacific will pay EUR41.43m ($47.4m) for the acquisition of the shares and an additional EUR84m ($96m) for 35% of a loan owed by Euromax to ECT Participations.
Euromax Terminal Rotterdam currently has a operating capacity of around 2.55m teu, and the capacity will increase to 3.2m teu upon completion of the terminal’s phase 2 expansion.
Cosco Pacific said it believes that the Port of Rotterdam will continue to be Europe’s main hub in the long term and investing in overseas hubs is in line with the company’s strategy.
