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Monday, 07 April 2014

TCB sells stake in Valencia terminal

Grup TCB today announced that Japanese corporations Mitsubishi and Kamigumi have bought a 25% stake in its Valencia container terminal (TCV).
 
 
The remaining 75% of the Spanish terminal remain in the hands of Grup Marítim TCB. The amount of the transaction has not been disclosed.
 
Grup TCB, which already operates container terminals in Latin America and the Mediterranean, says that the strategic alliance with Mitsubishi Corporation (MC) will help it expand its activities into Asia and Africa.
 
“For our company, the relationship with MC is strategic not only because it will strengthen TCV activity, but mainly because we are focusing on new geographies where MC could help us to grow,” said CEO Xavier Soucheiron.
 
Kamigumi operates container terminals in Japan and Thailand, while Mitsubishi wants to invest more in infrastructure.
 
TCV last year handled 700,000 TEUs, up 25% from the 560,000 TEUs it moved in 2012.

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