The Grimaldi Group acquires a majority stake in the Heraklion Port Authority
The signing of the share purchase agreement officially marked the sale and transfer of a majority stake in the capital of the Heraklion Port Authority (HPA S.A.) to Holding of Heraklion Port S.A., the consortium formed by the Grimaldi Group companies Grimaldi Euromed SpA and Minoan Lines S.A., according to Grimaldi's release.
For a total price of 80 million euros, the Italian group acquired 67% of the capital of the company that manages the largest and busiest seaport in Crete; this had been put out to tender by the Hellenic Republic Asset Development Fund (HRADF, a member company of GROWTHFUND – The National Fund of Greece), which organizes the management and privatization of public assets in Greece. This new, strategic investment follows Grimaldi Group’s recent acquisition of a majority stake in Igoumenitsa Port Authority S.A., the company that manages the namesake Greek port.
