Shares in Spain’s Malaga Port on the Costa del Sol sell for €1.5 million

NO CRUISES: Spain will wait until the health crisis is over. CREDIT: Shutterstock

THE Port of Malaga has sold its 20 per cent share in the cruise terminal for €1.5 million.

Five years after trying to offload its part in the joint venture, the authority has now formalised the sale of its share to Global Ports Holding Plc, reportedly the largest independent cruise port operator in the world.

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This week the CEO of GPH signed on the dotted line with the other shareholder Creuers del Port de Barcelona SA.

Creuers President, Emre Sayin, said he was delighted with the acquisition.

He said the port facilities, hotels and the airport of Malaga make it a ‘world class international base port’ and a ‘gateway to Andalusia that gives cruise passengers the opportunity not only to explore Malaga, but also this wonderful region’.

President of the Port Authority added that the acquisition is hugely important as it demonstrates the commitment of this large international company to the Port of Malaga and its future.

He said the move will allow the cruise terminal to increase it services, both to passengers and shipping companies to make Malaga a world cruise destination through the sustainable development of its activities.

FORMALISED: Global Ports Holding Plc now owns 20 per cent of the Malaga Port’s cruise terminal.


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