The joint venture established by the companies Grimaldi Euromed S.p.A., Minoan Lines S.A. and Investment Construction Commercial And Industrial S.A. (EKEV SA) signed an agreement with the Hellenic Republic Asset Development Fund for the purchase of a majority stake of 67% of the share capital of the Igoumenitsa Port Authority (IPA S.A.) for a total price of around US$90 million.
The signature of the share purchase agreement takes place after the approval of the Court of Auditors, while the ratification of the concession agreement between the Greek State and IPA S.A. by the Greek Parliament is imminent.
According to the Grimaldi Group, the signing of the agreement marks a new era for the port of Igoumenitsa and the development prospects of the region.
Greece's Minister of Finance, Christos Staikouras, stated after the signing of the agreement, "This agreement confirms the effectiveness of the Government's strategic planning for the development of the country's ports and proves in practice the confidence of significant investment schemes in the prospects of the country. With this investment, not only do we achieve a significant financial return, but it is also expected that the port of Igoumenitsa will be established as an international port."
