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Cosco Pacific Buys Stake in Hutchison Europe Container Terminal

  • Company to pay 125.4 million euros for 35% in shares and debt
  • Euromax terminal will see its handling capacity rise this year

China’s Cosco Pacific Ltd. will pay 125.4 million euros ($143 million) for shares and loans in a container-terminal operator in Rotterdam amid an overseas expansion drive by Chinese companies.

Cosco Pacific will buy 35 percent of Euromax Terminal Rotterdam BV for 41.4 million euros and assume 84 million euros of debt equivalent to 35 percent of a loan, the Chinese company said in a statement late Wednesday. Euromax is indirectly owned by Hutchison Port Holdings Ltd., which in turn is owned by Hong Kong billionaire Li Ka-shing’s CK Hutchison Holdings Ltd.