GPH buys remaining Malaga concession

2020-02-12T14:43:40+00:00 February 12th, 2020|Ports|

Global Ports Holding’s (GPH) joint venture, Creuers Del Port de Barcelona (Creuers), has bought the remaining shares of Malaga Cruise Port concession for €1.5 mill.

GPH holds a 62% stake in Creuers, with the remaining share owned by Royal Caribbean Cruises.

Creuers previously owned 80% of the port concession and recently purchased the outstanding 20% stake from the Malaga Port Authority.
This transaction is in line with GPH’s strategy to buy out minority shareholdings at a fair price, where there is an opportunity to do so, the company said.

Emre Sayin, GPH CEO and President of Creuers (pictured, left), said: “We are delighted that our joint venture has completed the acquisition of the Malaga Cruise Port concession. Malaga’s port facilities, hotels and airport all make it a truly world-class international homeport and transit port. The port gives cruise guests an opportunity not only to explore Malaga but also serves as a gateway to beautiful Andalucia.

“We greatly value our relationship with Malaga Port Authority and look forward to continue to play our role in developing the cruise port and the wider visitor experience at this wonderful destination. This acquisition underlines our strategy to buy out minority shareholdings at a fair price in our ports,” he said.

Carlos Rubio, Malaga Port Authority President (pictured, right), added: “We are very pleased to have secured international commitment to the Port of Malaga. This transaction highlights the importance of Malaga as a tourist destination and will allow the cruise terminal to significantly increase its offer of services, both to passengers and shipping companies. We look forward to continuing to make Malaga a world-class cruise destination.”

Malaga Cruise Port manages all three cruise terminals at the port.