News / Continuing dock strife delays Cosco purchase of stake in Spanish port sector

Noatum's flagship Valencia facility

The labour dispute that is disrupting the Spanish port sector has also held up the sale of a stake in the Noatum ports group to Cosco.

According to a report in Spanish business paper El Confidencial, Noatum owner JP Morgan Asset Management has agreed to sell an undisclosed stake in the company to the Chinese shipping and ports operator.

In 2010, JP Morgan paid €740m for what was then known as Dragados and changed its name to  Noatum. It is Spain’s largest port operator, with ...