The Grimaldi Group acquires 67% shares of the Port of Igoumenitsa, Greece

The Grimaldi family was named on Thursday as the preferred bidder in the tender for the majority share acquisition in the tender for the majority share acquisition of the port of Igoumenitsa for a total price of € 84.17 million, according to company´s announcement. The Grimaldi Group acquires a controlling stake in one of the largest commercial ports in Greece, strategic for connections between mainland Greece and the rest of Europe.

The consortium led by the Grimaldi Group, made up of its subsidiaries Grimaldi Euromed and Minoan Lines Shipping (which together represent 90% of the consortium) and the Greek operator Investment Construction Commercial and Industrial, were selected as the preferred bidder for the acquisition of a 67% stake in the share capital of the Igoumenitsa Port Authority.

The concession relating to the Port of Igoumenitsa includes the right to exclusively use and manage the assets of the port area of ​​Igoumenitsa, the fishing shelters of Sagiada and Plataria and the yacht shelter of Syvota.

“Our Group has long been the main customer of the port, and in this sense the acquisition of the majority of its share capital is part of a broader strategy of vertical integration,” says Grimaldi Group Managing Director Emanuele Grimaldi.

With the Grimaldi Lines and Minoan Lines brands, the Grimaldi Group operates various liner services connecting Igoumenitsa to the Italian ports of Ancona and Brindisi directly, and mainly dedicated to the transport of rolling freight, cars and passengers. These Adriatic links are essential for traffics between Italy, Greece, Turkey and the entire Balkan peninsula.

Source: Grimaldi Group

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