Grimaldi Group signs purchase agreement for a majority stake in Greece’s Igoumenitsa Port Authority

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The Grimaldi Group companies Grimaldi Euromed and Minoan Lines, together with Investment Construction Commercial and Industrial, have signed an agreement with the Hellenic Republic Asset Development Fund (HRADF), the fund which manages the program of privatisation of ports and other public assets in Greece, to acquire 67% of the share capital of Igoumenitsa Port Authority.

Attending the share purchase signing ceremony (pictured), Greece’s Minister of Maritime Affairs and Insular Policy, Ioannis Plakiotakis, said the agreement “marks another important milestone in the course of the implementation of the strategic plan of the Greek Government for the development of the ports of our country, for the benefit of the Greek economy and local communities.”

Emanuele Grimaldi, President and Managing Director of Grimaldi Euromed, said: “We are ready and especially proud to start a new page in the story of the Igoumenitsa Port Authority. Our general goal is to have the Port of Igoumenitsa fulfil its full potential to the benefit of all its stakeholders, from maritime, transport and tourism operators to the local community.
“Our investments will facilitate the growth of the Port and, at the same time, the development of key European trade routes, of which Igoumenitsa represents the main gateway.
“Meanwhile, we will confirm our usual commitment to providing frequent and efficient liner services dedicated to the transport of freight and passengers between Igoumenitsa and Italy’s Adriatic coast, which are essential for traffic between Greece, Italy, Turkey and the entire Balkan peninsula.
“Overall, the upgrade of services in Igoumenitsa will result in more tourism, more trade flows, more local businesses, more jobs.”

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