Grimaldi-Minoan consortium acquires 67% of Heraklion Port Authority
A total of 67% of the shares of the Heraklion Port Authority were sold to Grimaldi-Minoan consortium for 80 million euros, Deputy Shipping Minister, Stefanos Gikas, said during the parliament plenary, according to Naftemporiki.
He added that 33% remains in the State which will continue to oversee all activities within the port of Heraklion, its land and sea zone.
“The process,” the Deputy Minister added, “proceeded in accordance with the prescribed controls of the competent bodies, resulting in the share purchase agreement with the preferred investor, the Consortium “GRIMALDI EUROMED S.P.A. and Minoan Lines Anonyme Shipping Company.”
The contract concerns exclusively the concession of use and exploitation of specific and exclusively identified areas and facilities.
Moreover, the Deputy Minister underlined that “in addition to the amount it will pay once, it will contribute to the State, annually, 3.5% of its combined sales, and is obliged to invest in new infrastructure and maintenance of existing ones with the adoption of green technologies, which is a priority of the Ministry of Shipping.”
He also added that “all procedures are under the constant control of the competent authorities, while in case of violation of the law, penal clauses are provided in the contract itself.” He added that, “the existence of an abundance of neighboring ports prevents abusive policies, as the market itself is self-regulating.”
