The News Center reported, Qingdao Port signed an Equity Purchasing Agreement with Maersk Terminal Co.,Ltd (the “Maersk”). The Agreement clarify that Qingdao Port purchased the 16.5% of issued shares of Vado Investment B.V. from Maersk at a consideration of EUR17.454 million. It is the first try to invest into foreign terminal business for Qingdao Port.

According to the Agreement, Qingdao Port will indirectly hold 9.9% of the issued shares in each of a reefer terminal and a container terminal and take part in the operation and management of the above two terminals.

Vado Terminal located in Vado Port of Ligurian, which is an important port in north of Italy and the Mediterranean Sea. Vado Container Terminal was expected to operate in 2018. It is only one terminal to handle the super large container vessel among of ports in north of Italy, and it also is a semi-automatic container terminal port without the physical limits. The terminal will provide services to customers in the market inland of north of Italy, south of France, Swiss and Germany.   

As the first foreign investment of terminal project, it is meaningful for Qingdao Port to invest into Vado Terminal. Mr. WANG, Enshi, the director of Oversea Business Department of Qingdao International Co.,Ltd , expressed, the significance is embodied in two aspects. First, investment into Vado Terminal business is the first try to invest foreign terminal for Qingdao Port, which is a breakthrough in term of international strategy and foreign investment. Additionally, it will achieve strong combination through relying on the advantages of Qingdao Port and Maersk, to further improve terminal operation efficiency. Next, the Company will increase foreign investment basing on global layout, further building international port.