Announced
Completed
Financials
Tags
Peru
terminal ports operations
Ports
Acquisition
Friendly
Joint Venture
Majority
Single Bidder
Private
Completed
Synopsis
COSCO Shipping Ports completed the acquisition of a 60% stake in Terminales Portuarios Chancay, a Peruvian company engaged in port-related activities and other marine services, from Volcan Compañía Minera, a Peruvian polymetallic miner, for $225m. After the acquisition, Chancay terminal will become the first terminal project controlled by China COSCO Shipping - the parent company of Hong Kong-headquartered COSCO Shipping Ports-in South America, as well as the group's second greenfield port project invested overseas. "The two companies will make full use of their advantages to build Chancay terminal into a key hub in South America, the most important logistics center on the Pacific coast, and a major platform that serves bilateral trade," Zhang Wei, COSCO Vice-Chairman.
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