Turkey-based Yilport Holding has entered into an agreement with Portugal’s Mota-Engil Group and Novo Banco to acquire Tertir, a port management company, in the biggest investment ever by a Turkish company in Portugal.
Under the deal, Yilport Holding will take over the company’s portfolio of port terminals in Portugal, Spain and Peru. Additionally, it will operate and manage Tertir’s forwarder / support services businesses located across Europe and Latin America.
According to the company, Yilport Holding is expected to be ranked amongst the world’s top 20 international container terminal operators with the latest acquisition.