Portugal’s maritime minister, Ana Paula Vitorino, stated recently to parliament in Lisbon that the sale of Grupo Tertir’s port management and logistics activities to Turkey’s Yildirim Group is not yet a done deal. The sale and purchase agreement between Yildirim and Mota-Engil was announced last autumn (World-Cargo News, October 2015, p10), but remains subject to regulatory approvals.
The minister noted that further clarification of the transaction had been sought. She was quizzed by MPs regarding the deal. Many MPs are concerned that the Turkish group will rationalise the workforce, similar to when it acquired assets in the Port of Oslo, (Sjursøya container terminal concession).
The minister said that she has requested “more information”, and added that the new owners “could never call into question the [existing] concession contract requirements, nor the public service commitments”
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This complete item is approximately 250 words in length, and appeared in the February 2016 issue of WorldCargo News, on page 8. To access this issue download the PDF here.
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