Saturday, June 03, 2023
Tuesday, 12 November 2019 17:56

Cosco division acquires 60% of the share capital of Piraeus-based PEARL

COSCO Shipping Ports Ltd, Greece, Intermodal Transport/Facilities, Logistics, Mergers & Acquisition, Port Operations, Railways, Top News
Piraeus, Greece (PortSEurope) November 11, 2019 – Ocean Rail Logistics, part of the COSCO Shipping group, has acquires 60% of the share capital of Piraeus Europe Asia Rail Logistics (PEARL) S.A.

Piraeus Europe Asia Rail Logistics (PEARL) S.A., is a subsidiary of PEARL ltd., a company incorporated in U.K. PEARL provides end-to-end Rail & Road transport solutions and Logistics services to enhance the effectiveness of the port of Piraeus, and links to other Greek ports. PEARL S.A. since May 2016 has officially been licensed as a Railway Operator/Undertaking (RU).

The acquisition could help COSCO in the intermodal logistics of distributing cargo arriving on its vessels from China into European markets.

The signing ceremony was attended by Greek Minister of Development and Investment Adonis Georgiades and COSCO Shipping group President Capt. Xu Lirong.

On the part of the COSCO Shipping group, the agreement was signed by Lin Ji, Chairman of the Board of Directors of COSCO Shipping Europe GmbH, while on the part of PEARL, the Chairman and Managing Director Panagopoulos Antonios.

PortSEurope Note: China’s COSCO Shipping Ports Limited is the operator of Piraeus Port Authority SA.

Copyright (C) PortSEurope


Subscribe to our Newsletter