Turkey’s Yıldırım buys Portugal’s port, logistics company

ISTANBUL - Reuters

Turkey’s Yıldırım Holding has announced it acquired Portuguese Mota-Engil Group’s port management company Tertir Terminais de Portugal and logistics company Mota-Engil Logistica SGPS, which have 275 million euros in equity value. 

“The portfolio of assets held by Mota-Engil, and the corresponding stake, will involve an amount of 275 million euros (of equity value) and includes port concessions, held by Mota-Engil, in Portugal, Spain and Peru, as well as the logistics support services company TRANSITEX,” said Portugal’s group in a written statement. 

Yıldırım Holding said the acquisition transactions are expected to be completed by the end of this year after the required permissions are received. 

Tertir Terminais de Portugal has seven container ports in Portugal, two in Spain and one in Peru. 

“With this acquisition, Yılport will be one of the largest 20 international container terminal operators and aims at being one of the top 10 in the next decade,” said Robert Yıldırım, chairman of Yılport, a subsidiary of Yıldırım Holding.