global ports holding

Turkey’s Global Ports Holding to acquire 31% stake in Valletta Cruise Port

Global Yatırım Holding said its port operator, Global Ports Holding, has signed a binding deal to acquire a 30.79 percent stake in Valetta Cruise Port Plc (VCP), which has operational rights of the Malta cruise port and its retail areas, in a written statement.

The completion of the stakes transfer will depend on the finalization of required legal and administrative permissions as well as future decisions by other partners of VCP about buying any more stakes.

VCP won the operational rights of the Valetta Cruise Port in Malta, along with its accompanying buildings and lands measuring over 48,000 square meters, in an international tender in 2002 for the next 65 years, according to the statement. The company has also undertaken retail sales through Travel Shopping Ltd, with some 90 percent of stakes owned by it.

VCP, which plans to offer services to 650,000 cruise passengers in 2015, aims to increase its passenger numbers and home-porting passenger rate, which is around 20 percent now, said the statement.

Global Ports Holding, established in 2004, is a leading port operator with a diversified portfolio of cruise and commercial ports in Turkey, the Mediterranean and Singapore.

Global Ports became the world’s largest cruise port operator following its acquisition of leading Spanish cruise port operator Creuers. As the world’s sole cruise ports consolidator, now operating a portfolio of 8 ports in 5 countries, GPH plans to continue its expansion in the global cruise port sector.

Controlling 50% of Turkey’s total cruise passengers, GPH serves around 850,000 passengers annually in Turkey. Today, GPH commands total passenger traffic of 3,8 million per year.

Source: Hurriyet

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