Port Holdings (HPH) has received approval from the European Commission to increase
its stake in container terminal operator Europe Combined Terminals (ECT) to 60%.
follows the Commission's decision to approve HPH's acquisition of a 35% stake
in ECT in July 2001. On completion of the transaction, HPH will have control over
ECT and will be entitled to further increase its stake in the future.
Group Managing Director, John Meredith said, "HPH welcomes the European Commission's
decision. This will allow HPH to participate fully in the management of ECT. We
are looking forward to working more closely with the local management to further
expand the international trade opportunities for the Port of Rotterdam."