QTerminals said its investment into the Rotterdam port represents an important step in the expansion of the company.
Qatar’s seaport operator signed a sale and purchase agreement to acquire Kramer Group’s majority stake in Europe’s biggest port.
“QTerminals Group signs an SPA to acquire a majority equity stake in the Kramer Group, port of Rotterdam, the Netherlands,” the Qatari company announced in a post on X, formerly known as Twitter, on Tuesday.
The Sales and Purchase agreement was signed between Mr. Neville Bissett, CEO of QTerminals, and Mr. Andre Karmer, CEO of the Kramer group. While the specific ownership value wasn’t specified, it is confirmed as a majority equity stake.
“The acquisition of Kramer Group represents an important step in the expansion of QTerminals, as the Port of Rotterdam is the largest port in Europe,” read a statement by the seaport operator.
The Kramer Group is an integrated container handling and storage, terminal, container development, and logistics services provider, located in the Port of Rotterdam, and is the only independent terminal in the Maasvlakte area, and one of the few multi-user depot terminals in the port.
QTerminals is Qatar’s terminal operating company jointly established by Mwani (51% shareholding) and Milaha (49% shareholding) to provide container, general cargo, RORO, livestock, and offshore supply services in Phase 1 of Hamad Port.
Hamad port is the gateway to Qatar’s main seaport needs.
QTerminals is responsible for enabling Qatar’s imports and exports, its maritime trade flows, and stimulating economic growth locally and regionally.
The company is also responsible for actively identifying and pursuing opportunities in ports and terminals outside of Qatar and is set to establish a bigger portfolio of overseas assets over the next 3-5 years.