MEDIA

30 Dec 2013

Global Ports Holding Selected as the Prefered Bidder for the Lisbon Cruise Terminal Tender

Global Ports Holding (GPH) completed the acquisition of 62% shares of Port of Bar for a total consideration of Euro 8,071,000 on December 30, 2013. The port holds a 30-year concession to repair, finance, operate and maintain the general freight and cargo terminal in the city of Bar, Montenegro.
Saygın Narin, the CEO of GPH, said “We, as GPH, have been targeting organic growth till now while revamping efficiency, systems and marketing processes in our Turkish ports. Having also successfully integrated our three ports, we are currently focusing on inorganic growth. We aim to add new ports, domestic and international into our portfolio. In that vein, we completed the acquisition of 62% of the Port of Bar today. We are excited about this transaction also because it is the first time a Turkish company acquires the majority ownership of a port operation overseas.”