Yilport acquired chemicals and petrochemicals storage operator Solventas

Yilport  acquisitionThe Turkish port operator Yilport Holdings AS acquired chemicals and petrochemicals storage and port company Solventas for 200 million USD. The transaction will be financed by bank loan. The Istanbul-based company Solventas was established as type A Customs Bonded Warehouse for the storage of bulk liquid, drummed and packed chemicals and petroleum products, but later widened business to logistics and terminals operators. The company has a lot of warehouses and tanks in Turkey, but also operate two jetties in Dilovası on the Izmit Bay at the Marmara Sea. The terminals are serving the trades of petrochemical products between Turkey and Russia, Central Asia and the Middle East.

Last September, the port operator Yilport Holdings AS already acquired the Portuguese terminal and logistics operator Tertir, which controls 10 port terminals, as well as logistics business in Europe and Latin America. The Turkish company spent 308 million USD for the acquisition and released plans to spend 5 billion USD in buying new assets, as well as another 5 billion USD in construction of power plants in Turkey.

Yilport Holdings AS is currently present in chrome ore mining and trading, ferrochrome production and trading, coal trading, fertilizer production and trading, shipping, shipbuilding, and port management. The port operator currently controls 18 ports worldwide and plans expansion to new markets in North Africa and Asia.