Slaughter and May is advising COSCO Pacific - joint venture with CMHI and CIC for proposed acquisition of approximately 65% of Kumport Terminal

Slaughter and May is advising COSCO Pacific Limited (CPL) on the formation of its joint venture with China Merchants Holdings (International) Company Limited (CMHI) and China Investment Corporation (CIC) for the proposed acquisition of approximately 65% of Kumport Terminal. The remaining shares are owned by the State General Reserve Fund of the Sultanate of Oman (SGRF).

Kumport Terminal is a modern container terminal in the Ambarli Port Complex, which is on the northwest coast of the Marmara Sea on the European side of Istanbul, Turkey. Kumport is the third largest container terminal in Turkey, which is a strategic location along the "Silk Road Economic Belt and the 21st Maritime Silk Road".

CPL is principally engaged in the businesses of managing and operating terminals and container leasing, management and sale. CMHI is principally engaged in the investment in and operation of port and port-related businesses. CIC is China’s sovereign wealth fund. SGRF is a sovereign wealth fund of the Sultanate of Oman.

Slaughter and May is working as a team with Kolcuo?lu Demirkan Ko?akli (advising on Turkish law aspects).

3 June 2016 update - this transaction was shortlisted for the Corporate and Commercial (International) Award an FT Asia Pacific Innovative Lawyers 2016 Awards and was ranked in the 'Highly Commended' category in the FT Asia Pacific Innovative Lawyers 2016 Report published on 3 June 2016.