Tuesday, 23 December 2008

Hutchison takes control of Amsterdam's Ceres terminal


HONG Kong terminal operator Hutchison Port Holdings has tightened its grip on the Dutch waterfront by acquiring a majority stake in Amsterdam’s Ceres Container Terminals Europe.

Hutchison has signed a share swap agreement with Japanese shipping group NYK, which gained full control the Ceres facility since 2006 after holding a 50% interest since 2002.

NYK will retain a small stake in Ceres, and will also get a minority shareholding in Hutchison’s giant Europe Container Terminals in Rotterdam.

The deal was revealed a few days after Hutchison acquired an interest in Evergreen’s Taranto terminal in southern Italy, with the Taiwanese group securing minority stakes in ECT and the UK’s Thamesport in exchange.

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