Global Ports Holding’s jv buys remaining shares of Malaga Cruise Port concessionGlobal Ports Holding’s jv buys remaining shares of Malaga Cruise Port concession

The purchase agreement was recently 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 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.

Sayin 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.’

Gateway to Andalucia

He added, ‘the port gives cruise guests an opportunity not only to explore Malaga but also serves as a gateway to beautiful Andalucia.’

He underscored the acquisition underlines GPH’s strategy to buy out minority shareholdings at a fair price in its ports.

The Port Authority’s Rubio 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 which are 15 minutes away from Malaga International Airport. It operates cruise piers over a total of 1,350 mtr, allowing Malaga to receive cruise ships of any size.

Malaga Cruise Port will host the high-profile Seatrade Cruise Med event between September 16-17, 2020.