Lizbon Port Authority Share Purchase Agreement
17 July 2014
Global Ports Holding (GPH), a fully-owned subsidiary of Global Investment Holdings and currently the operator of leading commercial and cruise ports in Turkey and internationally had announced on January 17th 2014 that it was selected as the preferred bidder for the Built Operate Transfer (BOT) contract of the Lisbon Cruise Terminal as a part of the consortium comprising of Royal Caribbean Cruises Ltd, Creuers del Port de Barcelona, S.A. and Grupo Sousa – Investimentos SGPS, LDA. GPH is the lead investor with 40% of the consortium with 30% held by Grupo Sousa Investimentos SGPS, 20% by Royal Caribbean Cruises Ltd. and 10% by Creuers Del Port Barcelona S.A. As of today, GPH effectively owns 21.5% of Creuers in partnership by Royal Caribbean Cruises, and recently signed a binding share purchase agreement to increase its effective stake to 62%.
GPH, today announced that the concession agreement was approved by the Competition Authority and the Court of Accounts, and was signed between Lizbon Port Authority and LCT-Lisbon Cruise Terminals, LDA set up by the consortium. The share transfer will be completed between 30-60 days, upon securing the necessary permissions.
The 35-year contract will include the construction and the operation of a landmark cruise terminal, on a public-service concession basis, at the Lisbon Cruise Terminal. With this new terminal, the Port Authority of Lisbon aims to grow in calls and cruise passengers, as well as increasing the turn-around operations with a view to double the current traffic of 550,000 passengers in the medium term. The new terminal is expected to provide the port with estimated 1.8mn passengers while supporting the growth of turnaround business and as such contributing favorably to regional tourism and economy. The construction of the new Lisbon Cruise Terminal is estimated to require c. Euro22mn in total investment.
www.globalyatirim.com.tr
www.globalports.com.tr
For Further Information
About GYH:
Global Yatırım Holding A.Ş. (GYH) was regrouped as a holding company in October 2004 to hold a diversified portfolio of investments in a number of businesses, including infrastructure, real estate, energy, and financial services. GYH is listed on Borsa Istanbul (as GLYHO.IS) and utilizes its experience in the finance sector for industrial business opportunities.
About GPH:
Global Ports Holding (Global Port) has been established to utilize commercial and cruise port opportunities in Turkey and the wider region. Global Ports is a leading port group with operations in Turkey and internationally, currently managing eight leading cruise and commercial ports. Since 2003, the Global Ports has developed a portfolio of strategically located ports in Turkey and internationally, each providing exceptional hinterland access with strong market demand fundamentals.
