21.09.2015 - Oman's state fund to retain stake in Turkey’s Kumport port
The State General Reserve Fund (SGRF), the main sovereign wealth fund of the Sultanate of Oman, plans to retain its 35 per cent stake in the Turkish container port of Kumport. SGRF confirmed the decision in the context of the majority shareholder, FIBA Holding, announcing its decision to sell its 65 per cent stake to a consortium comprised of China Merchants Holdings (International) Company Ltd. (CMHI), COSCO Pacific Ltd. (COSCO Pacific) and CIC Capital Corp. (CIC Capital). Kumport is the third largest container terminal in Turkey and is located towards the north west of the Marmara Sea, on the European side of Istanbul. It is an important strategic location, placed at the junction of Europe and Asia. The terminal is located only 35 kilometres from the Bosphorus Strait, the sole gateway into the Black Sea region...............................................Full Article: Source
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