The port operator Cosco Shipping Ports Spain (CSP), the Chinese state-owned company that operates the main container terminal at the Port of Valencia, has acquired 51% of the shares of the company Logitren Ferroviaria, founded in 2007 and until now owned by the construction company Torrescámara and the public entity Ferrocarrils de la Generalitat Valenciana.
According to CSP, Logitren sees “in this way its growth strategy in the Iberian Peninsula strengthened, without losing its essence as a multi-client railway company”.
With this integration deal, CSP Spain becomes the only container operator in Spain with maritime terminals, inland terminals, railway operator and railway company under its portfolio of investees and Logitren incorporates “an industrial partner in its shareholding that will help it to maximise the performance of its locomotives by establishing regular cargo flows on its main rail corridors, taking advantage of the expertise and solvency of its current management team,” said CSP in a statement.
With this acquisition, Casco, a state-owned Chinese company that currently operates the main container terminal in Valencia’s port, takes another step towards the development of its logistic-intermodal strategy in Spain.
KPMG Abogados, led by Andrés Íñigo as director in the firm’s Corporate and M&A area in the regions of Valencia and Murcia, has been the legal advisor in this acquisition, together with KPMG’s teams for Tax Due Diligence director Jaime de la Rosa, Legal senior Vanesa Aucejo and Finance partner Beltrán Romero.