COSCO Pacific Ltd acquires 35% stake in Euromax Terminal

COSCO Pacific Ltd, a subsidiary of China COSCO Shipping Corp, entered into a share sale and purchase agreement with ECT Participations BV on Wednesday to acquire a 35 percent equity interest in the Netherlands-based Euromax Terminal.


The amount required for the acquisition is 41.43 million euros ($47.34 million) for 35 percent of the share capital of Euromax and to pay for assignment on a dollar for dollar basis of 35 percent of the shareholder’s loan.


ECT Participations BV is a subsidiary of Hutchison Port Holdings Ltd, a private holding company incorporated in the British Virgin Islands.


Euromax is principally engaged in the business of operating the Euromax Terminal Rotterdam, which is located in Maasvlakte I of the Port of Rotterdam in the Netherlands.


The article transsshipment from China Daily