Yilport Holding has closed the acquisition of 100% of the shares of the Portuguese port management company, Tertir.

Yilport Holding signed the deal on February 18, 2016 along with Tertir’s shareholders Mota - Engil Group and Novo Banco. Yilport has been advised on by VTB Capital, Banco Finantia and Erdem & Erdem Law Office. 

The deal is worth €300 million (US$330.2 million). Following the acquisition, Yilport has reached a total annual container handling capacity of 10 million TEUs and an annual dry bulk handling capacity of 22 million tons. The deal increases Yilport's Global Port Terminal Network to 17 operations across 7 countries throughout Europe and Latin America.

Tertir's portfolio is comprised of ten port terminals in total: seven of which are in Portugal, two in Spain and one in Peru. Tertir's eight container terminals have an annual handling capacity of 2.7 million TEUs and the two break bulk and grain terminals have an annual capacity of approximately 4.5 million tons.

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 Holding 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.

Yildirim Holding President & CEO Robert Yuksel YILDIRIM, stated:

“Since entering the port operations and management business in 2005, Yilport has become a global port terminal operator and continues to make steady progress in this sector. As a result of its investments in Turkey and abroad in recent years, Yilport Holding has become the foremost port operating company in Turkey and the only Turkish company to be listed among international terminal operators. Mota-Engil’s Tertir portfolio was in our radar for the past two and a half years, and we finally signed the deal. We are happy to welcome 10 new ports into the Yilport portfolio. Upon completion of the purchase, we will work towards integration of the terminals to the Yilport global network. After the integration, total number of Yilport terminals will reach 20 in 7 countries globally. We set a new goal in 2015 to rise among the top 10 international terminal operators. Towards this goal, we won the tender for Puerto Bolívar in Ecuador. We are committed to conclude the acquisition in the first half of this year, and start operations. We plan to expand our ports and terminals portfolio further in 2016.”