Erdem & Erdem has advised Yilport Holding on its acquisition of operating rights to the Puerto Bolivar Harbor, located in Machala, Ecuador, for a period of 50 years, in return for an investment of USD 750 million.
The Concession Agreement was executed at an August 8, 2016, ceremony attended by approximately a thousand people. The term sheet of the public-private partnership project was signed in February, 2016, in the presence of the president of the Turkish Republic, Recep Tayyip Erdogan, and the President of Ecuador, Rafael Correa .
Yilport Holding now conducts 21 terminal operations in 8 countries. As a result of Yilport Holding’s investment in the Puerto Bolivar Harbor, which is expected to increase its container capacity up to 2.5 million TEU, the harbor will become the biggest and most-developed container terminal on Latin America’s Pacific Ocean coast.
The Erdem & Erdem team was led by Partner Ozgur Kocabasoglu.
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