Boluda Maritime Corporation and DIF Capital Partners have signed an agreement whereby the Dutch fund will acquire a shareholding in the container terminal division of the Spanish port and shipping services company. The operation will materialize through a joint venture of which the group headed by Vicente Boluda will continue to be the majority shareholder.
The operation affects 8 container terminals located in the Canary Islands and the Peninsula with a total capacity greater than 1.5 million TEUs. In the Archipelago it has four in Gran Canaria, Tenerife, Fuerteventura and La Palma, in addition to a recent concession in Lanzarote. They all provide loading, unloading, storage, container management and general cargo services. The joint venture will employ around 150 workers. Each terminal has its own financing without establishing new debt in the context of the transaction, as detailed by the fund on Tuesday.
The terminal portfolio is key to serving essential goods with origin or destination in the Canary Islands. The agreement to establish the joint venture includes specific arrangements to invest more in opportunities linked to container traffic. The terminals will continue to have the support of Boluda Lines, which develops a container cargo service between the Iberian Peninsula, the Canary Islands and other regions of Europe and Africa. To do this, the joint venture has signed a long-term contract with the shipping division of Boluda Corporación Marítima. The completion of the acquisition is subject to the approval of the antitrust authorities.
