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China’s COSCO Shipping buys 51% shares of Spain’s Noatum Port

COSCO SHIPPING Ports (Spain) Limited acquired 51% shares of Noatum Port Holdings on June 12nd 2017. The EUR 203 million (USD 228 million) worth deal includes the company’s container terminals in Valencia and Bilbao, as well as the dry ports of Madrid (Conterail) and Zaragoza (Noatum Rail Terminal Zaragoza).The transaction represents another important measure taken by COSCO SHIPPING to implement the Belt and Road Initiative and to extend its ports and terminals business networks over the Mediterranean and European areas.

Source: coscopac.com

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