Post by Erdinc ERGENC

MSC-backed TiL Invests in SOCAR Aliaga Port (SOCAR Terminal) 📢 Turkish Competition Authority announced that it has received an application from MSC Mediterranean Shipping Company backed Swiss container terminal operator Terminal Investment Limited (TiL) to buy into SOCAR Türkiye's Aliaga port operator SOCAR Terminal. [https://lnkd.in/dJpc7hDQ] 📌 Financial details of the deal were not disclosed in Socar announcement. In 2014 Goldman Sachs had acquired 30% stake in the Terminal and later in 2022, sold its shares to Socar Türkiye for an undisclosed sum. 👉 The terminal initially was established as Petlim Port Management Inc. (Petlim) in 2010 as a 100% subsidiary of Petkim, to develop and operate Petkim Port more efficiently and with the aim to construct the largest integrated port in the Aegean Region, as per Socar website [https://lnkd.in/dJBAHhQf]. 📌 SOCAR Türkiye Energy Inc. fully acquired the terminal in 2018 and renamed SOCAR Aliağa Liman İşletmeciliği (SOCAR Terminal). ✒️ The recent investment by TiL was signed at a ceremony that took place a week ago in Baku. MSC is one of the biggest container shipping companies globally and its subsidiary TiL has a diverse portfolio of container terminals including Singapore, Ningbo, Busan, Los Angeles, Long Beach, Rotterdam, Antwerp, New York / New Jersey and Valencia.