COSCO Pacific Ltd, a subsidiary of China COSCO Shipping Corp, entered into a share sale and purchase agreement with ECT Participations BV on Wednesday to acquire a 35 percent equity interest in the Netherlands-based Euromax Terminal.

The amount required for the acquisition is 41.43 million euros ($47.34 million) for 35 percent of the share capital of Euromax and to pay for assignment on a dollar for dollar basis of 35 percent of the shareholder’s loan.

ECT Participations BV is a subsidiary of Hutchison Port Holdings Ltd, a private holding company incorporated in the British Virgin Islands.

Euromax is principally engaged in the business of operating the Euromax Terminal Rotterdam, which is located in Maasvlakte I of the Port of Rotterdam in the Netherlands.

It is an automatic container terminal which commenced operations in mid-2010. It has an annual handling capacity of 3.2 million TEU. The total throughput of the terminal in 2015 was about 2.28 million TEU.