China Merchants-led consortium to buy $940 million stake in Turkey terminal
By: Reuters | Sep 16 2015 at 09:20 PM | Ports & Terminals
HONG KONG - Port operator China Merchants Holdings (International) Co Ltd said on Thursday a consortium it was leading had agreed to buy stake in a container terminal in Turkey for $940 million as part of its seeks to expand its business globally.
The consortium also includes COSCO Pacific Ltd and CIC Capital Corp.
In a stock exchange filing, the group said it would buy about 65 percent of a company that owns and operates a terminal in the Ambarli Port Complex because it was “strategically favourable and has high growth potential, particularly, as a result of the Chinese Government’s ‘One Belt, One Road’ initiative”. (Reporting by Donny Kwok; Editing by Miral Fahmy)