COSCO takes 35% stake in terminal of Rotterdam

Firm hopes to cash in on trade from Silk Road Economic Belt

COSCO Pacific Ltd, a subsidiary of China COSCO Shipping Corp, has signed a share sale and purchase agreement to buy 35 percent of Euromax Terminal in Rotterdam from a subsidiary of Hutchison Holdings Ltd.

The acquisition comprises of 41.43 million euros ($47.34 million) for 35 percent of the share capital of Euromax and to pay for assignment on a dollar-for-dollar basis of 35 percent of the shareholder's loan, COSCO Shipping announced on Thursday.