The sale of a majority stake in the Igoumenitsa Port was completed
The sale of a majority stake in the Igoumenitsa Port was completed

The sale of a majority stake in the Igoumenitsa Port was completed

The signature of the share purchase agreement takes place after the approval of the Court of Auditors.
RE+D magazine
21.03.2023

The Hellenic Republic Asset Development Fund (HRADF), a member company of GROWTHFUND – The National Fund of Greece, announces that today, Tuesday, March 21, 2023, the signing of the share purchase agreement for the acquisition of a majority stake of 67% in the share capital of the Igoumenitsa Port Authority (IPA S.A.) took place for a total price of 84.17 million euros, between the Fund and the joint venture consisting of the companies GRIMALDI EUROMED S.p.A. - MINOAN LINES S.A. - INVESTMENT CONSTRUCTION COMMERCIAL AND INDUSTRIAL S.A. (EKEV S.A.).

The signing ceremony that took place at HRADF's premises was attended, among others, by the Minister of Maritime Affairs and Insular Policy, Ioannis Plakiotakis, the Secretary General of Ports Port Policy and Maritime Investments, Evangelos Kyriazopoulos, the CEO of HRADF, Dimitris Politis, the President and Managing Director of Grimaldi Euromed S.p.A., Emanuele Grimaldi, the CEO of GROWTHFUND – The National Fund of Greece, Grigoris D. Dimitriadis, the Corporate Short Sea Commercial Director of the Grimaldi Group, Guido Grimaldi, the CEO of Minoan Lines, Loukas Sigalas, The Chairman and Managing Director of EKEV S.A., Athanasios Koulouris, the President and Managing Director of the Igoumenitsa Port Holding Company S.A., Paul Kyprianou, the CEO of IPA S.A., Athanasios Porfyris, the Member of Parliament for Thesprotia, Vasileios Giogiakas and the Mayor of Igoumenitsa, Ioannis Lolos.

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. 

With the signing of the share purchase agreement, another important milestone for the development of the assets managed by HRADF is achieved, marking a new era for the port of Igoumenitsa and the development prospects of the region. 

Find the full press release here.