DIF Capital Partners (DIF) has signed an agreement to acquire an undisclosed stake of Boluda Corporación Marítima’s (Boluda CM) container terminal division.
Boluda CM will remain the majority shareholder in the joint venture (JV).
The transaction involves eight container terminals located in continental Spain and the Canary Islands that operate a total capacity of 1.5 million TEU. All of the facilities are operated under a concession granted by the port authorities.
According to DIF, Boluda Maritime Terminals’ portfolio is key to serve essential goods to and from the Canary Islands. The JV agreement also includes specific arrangements to further invest in container terminal opportunities.
Under the document, the terminals will continue to benefit from the support of Boluda Lines, the maritime transport division of Boluda CM, which has developed a successful container cargo service between the Iberian Peninsula, the Canary Islands and other regions in Europe and Africa.
“We are pleased to announce the agreement reached with Boluda CM to invest in their container terminal business,” said Willem Jansonius, Head of Investments at DIF.
“The Boluda terminals are essential infrastructure assets delivering cargo services 24/7 to the Iberian Peninsula and the Canary Islands.
“We are looking forward to continuing to grow the business together with Boluda CM, management and employees and aim to work closely with its customers, the port authorities and other stakeholders”.
The transaction is subject to antitrust approval.