Expansion of Exploitatiemaatschappij Schelde Maas (2003)

In 2003 Zeeland Seaports ("ZSP"), the manager of the ports of the province of Zeeland, and Port of Rotterdam (PoR) decided to strongly intensify their partnership in Vlissingen. To this end Exploitatiemaatschappij Schelde Maas ("ESM"), the modest joint venture that the two parties started up in 1995, was transformed into a vehicle that was assigned an im-portant role in the management of the entire port of Vlissingen.

Expansie van Exploitatiemaatschappij Schelde Maas

The closer co-operation stems from the aspiration of the two parties to jointly pursue the development of the Westerschelde Container Terminal, one of the largest port develop-ment projects in Europe. To give this partnership shape, it was decided that all ZSPís ac-tivities involving the development and sale of port sites should be transferred to ESM. The role of ZSP would then be confined to management tasks, particularly in Vlissingen.

Acting on behalf of both parties in this project, Bridgecraft drafted a business plan for the enlarged ESM, designed the main outlines of the partnership agreement between ZSP and ESM, and facilitated the negotiations between the parties. As part of the transaction, the parties committed themselves to investments running to several hundreds of millions of euros. The closing of the agreements took place in March 2003.

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