by Lloyd’s List
COSCO Shipping Ports has finalised its acquisition of a 12.5% equity stake in Thai Laem Chabang Terminal and a 30% equity stake in Hutchison Laem Chabang Terminal for an aggregate consideration of around $110m, according to the law firm that advised on the deal.
The seller was Hutchison Port Holdings, the Hong Kong-headquartered multinational operator.
TLT and HLT are the largest terminals at Laem Chabang in Thailand, which is the country’s largest port and its most important international container hub, handling around 80% of its total box throughput.
Laem Chabang sits at number 20 in Lloyd’s List’s rankings of the world’s top 100 container ports, with throughput up 7.7% in 2024 to hit 9.6m teu.
The transaction, which was first announced last year but completed last month, sees a further step in Cosco unit Cosco Shipping Ports’ continued expansion in Southeast Asia.
HFW — which provided advisory services for the Chinese giant — said the transaction would leave Cosco better positioned to co-operate with global shipping companies in Thailand and the wider region.
It will also enable the company to expand its logistics offering, including extended terminal and port logistics services.
The cross-practice work was led by HFW shipping partner Henry Fung and corporate and commercial partner Wing Cheung, with support from consultant Roger Wong and associate Johnnie Ho.
Senior associate Zoe Triantafyllou and trainee solicitor Michael Popp from HFW’s Singapore office attended the closing on behalf of Cosco.
Rival player China Merchants Port Holdings late last year secured Indonesian and Thai facilities, as Chinese port outfits compete to tap surging demand in Asia.
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