Turkish entrepreneur plots his course to become one of world’s top 10 port operators
Turkey’s Yilport Holding aims to buy one or two terminals per year to achieve its goal of becoming one of the world’s 10 largest port players, says its parent Yidirim Group’s president and chief executive Robert Yuksel Yildirim.
The company, which currently operates 21 terminals across the world, is beefing up its war chest.
Up to $1bn in acquisition cash is expected to flow in by the end of this year through a preferred equity sale to selected long-term investors, Yildirim tells TradeWinds.
Further acquisition funds may follow at the end of 2017, if the Yildirim Group decides at that point to sell its stake in CMA CGM.
“Yilport aims to be different than the competitors. We want to be a multipurpose port operator,” Yildirim said in an interview on the sidelines of the Malta Maritime Summit last week.
Ports in developing countries, including in Latin America and Africa, and Europe offer plenty of growth and profit opportunities to businesses such as Yilport, by helping local exporters tap into new markets.
“Africa is a niche market,” Yildirim said. “We can help small businesses there — they produce minerals and wood products but they don’t know to whom and how to export.”
As part of Yildirim Group — a sprawling industrial holding also active in metals and mining, fertilisers, energy and real estate — Yilport believes it can provide its clients with market intelligence and tailor-made logistics on several types of ships, from containers to dry bulk and liquid cargo.
Read the full article at Tradewinds.