Global Ports Holding’s JV buys remaining shares of Malaga Cruise Port concession
Global Ports Holding Plc (GPH), the world’s largest independent cruise port operator, has today announced that its joint venture, Creuers Del Port de Barcelona SA (Creuers), has bought the remaining shares of the concession for Malaga Cruise Port for €1.5 million.
The purchase agreement was signed by Emre Sayin, CEO of GPH and Carlos Rubio, President of the Port Authority in the presence of Salvador de la Encina, the President of Puertos del Estado.
GPH holds a 62% stake in Creuers, with the remainder owned by Royal Caribbean Cruises Ltd. Creuers previously owned 80% of the port concession and today announces it has 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.
Emre Sayin, CEO of Global Ports Holding and President of Creuers, 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.”
Carlos Rubio, President of the Port Authority, said: “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 in the Port of Malaga. The cruise port is located in a strategic area in Southern Europe with routes to the Atlantic and the Mediterranean, making it a gateway to Andalusia.
The port is just 15 minutes away from Malaga International Airport, which offers flights to and from Europe and all around the world. Malaga Cruise Port provides a comprehensive range of services at each of the three cruise terminals and operates cruise piers over a total of 1,350 m, allowing Malaga to receive cruise ships of any size from all over the world.
Malaga Cruise Port will host the high-profile Seatrade Med event later this year.