QTerminals, a joint venture between Mwani Qatar and Milaha, is acquiring a strategic 99.99% equity stake in Turkey’s Port Akdeniz, Antalaya, for an enterprise value of $140mn.
The Qatar-based terminal operating company has entered into a sale and purchase agreement for the port, which is located in the East Mediterranean Sea coast of Turkey and has an area of 205,000sq, with 10 berths totalling a quay length of 1,142m with a depth alongside of 11m.
The acquisition of the port from the Turkish subsidiary of the UK-based Global Ports Holding (GPH) is subject to the Turkish Competition Authority’s clearance and several other conditions.
The port, which serves more than 2,500 vessel calls per year, becomes the third port asset in QTerminals’ global portfolio.
The multi-purpose Port Akdeniz is situated on the Kemer junction at the westernmost end of Antalaya and linked to hinterland by highways. It is the largest and well-equipped port along the 700km Turkish Aegean-Mediterranean coast and has a 1,600mn main breakwater and a 650mn side.
Apart from a free zone quay, included in the breakwater, the port’s location and its surrounding mineral wealth and mining operations have enabled it to position itself as a “strategic” gateway to diverse global markets for exporters of cement, clinker, aluminium, marble and chromium.
The Organised Industrial Zone hosts various companies operating in different sectors such as PVC, wood and plastic manufacturing, food production, and machinery and heavy manufacturing.
QTerminals was advised by international law firm Clyde and Co, QInvest, PricewaterhouseCoopers, Kolcuoglu Demirkan Kocakli, Trent Port Services and PCLP on the proposed deal.
QTerminals’ other priced overseas asset is the Ukraine’s Port of Olivia, for which it is investing $140mn. The concession is for 35 years, until 2056, during which QTerminals will develop the port over the next five years, of which $3.5mn is allocated for the restoration of local infrastructure of Mykolaiv, the city where the port is located.
The acquisition of the port from the Turkish subsidiary of the UK-based Global Ports Holding (GPH) is subject to the Turkish Competition Authority’s clearance and several other conditions.
The port, which serves more than 2,500 vessel calls per year, becomes the third port asset in QTerminals’ global portfolio.
The multi-purpose Port Akdeniz is situated on the Kemer junction at the westernmost end of Antalaya and linked to hinterland by highways. It is the largest and well-equipped port along the 700km Turkish Aegean-Mediterranean coast and has a 1,600mn main breakwater and a 650mn side.
Apart from a free zone quay, included in the breakwater, the port’s location and its surrounding mineral wealth and mining operations have enabled it to position itself as a “strategic” gateway to diverse global markets for exporters of cement, clinker, aluminium, marble and chromium.
The Organised Industrial Zone hosts various companies operating in different sectors such as PVC, wood and plastic manufacturing, food production, and machinery and heavy manufacturing.
QTerminals was advised by international law firm Clyde and Co, QInvest, PricewaterhouseCoopers, Kolcuoglu Demirkan Kocakli, Trent Port Services and PCLP on the proposed deal.
QTerminals’ other priced overseas asset is the Ukraine’s Port of Olivia, for which it is investing $140mn. The concession is for 35 years, until 2056, during which QTerminals will develop the port over the next five years, of which $3.5mn is allocated for the restoration of local infrastructure of Mykolaiv, the city where the port is located.