Global Ports Holdings

The European Bank for Reconstruction and Development (EBRD) has signed an agreement to acquire a minority stake in Turkish port operator Global Ports Holding (GPH).

Under the terms of the agreement, EBRD will nominate a member for the board of GPH that operates eight ports in Montenegro, Portugal, Singapore, Spain and Turkey, reported IHS.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

ERBD is expected to enhance the company’s corporate governance in addition to consolidating its position and making it more competitive in Turkey and internationally.

The proceeds from the investment will be used to finance the company’s future investments in ports across the countries where the EBRD invests.

The company’s expansion is expected to support integration among ports and create network synergies.

“We are pleased to provide an important funding boost to Global Ports as it seeks to expand and broaden its horizons along the Mediterranean before a landmark listing.”

EBRD Transport director Sue Barrett said: “We are pleased to provide an important funding boost to Global Ports as it seeks to expand and broaden its horizons along the Mediterranean before a landmark listing.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Global Ports chairman Mehmet Kutman said: “I am honoured to follow the footsteps of the founder of GPH, Gregory M. Kiez, by welcoming the EBRD as our partner, which will support our expansion plan, especially in the cruise port arena where our company is the leading operator worldwide.”

Earlier this month, GPH agreed to purchase a 30.79% stake in Maltese terminal operator Valletta Cruise Port (VCP) and the company has announced plans for an international listing in 2016-2018.

EBRD, which has been investing in Turkey since 2009, operates from Istanbul, Ankara and Gaziantep. It has invested more than €6bn in Turkey through nearly 160 projects.

Image: A cruise port in Turkey. Photo: courtesy of The European Bank for Reconstruction and Development.