NautaDutilh assisted ECT Participations B.V., a wholly owned subsidiary of Europe Container Terminals B.V. (ECT), with the sale of a 35% stake in Euromax Terminal Rotterdam B.V. to COSCO Ports (Rotterdam) Limited, a wholly owned subsidiary of HKEx listed COSCO Pacific Limited (CPL). ECT is a wholly owned subsidiary of Hutchison Port Holdings (HPH). ECT and HPH are principally engaged in terminal operations and related logistics businesses. CPL is principally engaged in the businesses of managing and operating terminals, and related businesses.
Euromax is principally engaged in the business of operation of Euromax Terminal Rotterdam, which is located at the area of Maasvlakte I of the Port of Rotterdam in the Netherlands. Euromax Terminal Rotterdam is an automatic container terminal which commenced operation in mid-2010. It offers terminal and related services to a number of shipping lines and hinterland transport operators. Cosco Pacific said it believes the acquisition of a container terminal in the Port of Rotterdam is not just in line with the its strategy of investing in overseas hubs, but also coordinates with Cosco Group's strategy of strengthening its container shipping businesses. Cosco Pacific has stakes in container terminals in mainland China, Hong Kong, Singapore, Belgium, Egypt and Greece.
The contemplated transaction, with a value of EUR 125.43 million, is subject to customary regulatory and other closing conditions. The transaction was signed 11 May 2016; its closing is expected in Q3 2016.
The assisting NautaDutilh team consisted of Joost den Engelsman, Jaap Jan Trommel, Ruud Smits, Willianne van Zandwijk, Silvia Hubers, Nicole Dashorst (all Corporate M&A), Marianne de Waard and Sanne Mesu (Corporate Notary), Rutger Kalsbeek (Litigation), Marianne Evers (Real Estate), Albert van der Kolk (Employee benefits and Pension), Tycho de Graaf (IT) and Edward Rijnhout (Taxation).