COSCO Pacific Limited entered into a Share Sale

COSCO Pacific Limited ('COSCO Pacific' or the Company) entered into a Share Sale and Purchase Agreement ('Agreement') with ECT Participations B.V. ('ECT') which is a subsidiary of Hutchison Port Holdings Limited ('HPH', to acquire a 35% equity interest in EUROMAX Terminal. A signing ceremony was held in Shanghai on 11 May 2016. The consideration for the Acquisition comprises of €41.43 million for 35% of the share capital of EUROMAX and to pay for assignment on a dollar for dollar basis of 35% of the shareholder's loan.

EUROMAX is principally engaged in the business of operation of Euromax Terminal Rotterdam, which is located at the area of Maasvlakte I of Port of Rotterdam in the Netherlands. Euromax Terminal Rotterdam is an automatic container terminal which commenced operation in mid-2010. The total area including Phase 1 and Phase 2 is 1.21 million square metres with a total quay length of 1,800 metres, a draft depth of 16.65 metres and an annual handling capacity of 3.2 million TEU. The total throughput of the terminal in 2015 was about 2.28 million TEU.

The Port of Rotterdam is the largest port in Europe and one of the major hub ports in the world. Rotterdam is located at the junction of land-based 'Silk Road Economic Belt' and ocean-going 'Maritime Silk Road' Furthermore, Rotterdam is situated at the end point of the 'Silk Road Economic Belt' and the new Asia-Europe economic corridor in Europe.

Based on the medium to long-term development trend, the Port of Rotterdam will continue to be Europe's main hub. That port has been the base port of COSCO SHIPPING in North-western Europe for a long time. COSCO SHIPPING will continue to deploy ultra-large container vessels to the European route, and the Port of Rotterdam will be the main anchor hub in the region.

This investment in a container terminal in the Port of Rotterdam is not only in line with the Company's strategy of investing in overseas hubs, but also coordinates with COSCO SHIPPING's hub strategy, resulting in a good synergy and providing comprehensive terminal services to the shipping fleets of Ocean Alliance.

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