Turkey's Global Investment Holdings (GIH), which, through its a wholly-owned subsidiary of Global Ports Holding B.V., owns approximately 59% of the terminal company's share capital Global Ports Holding Plc (GPH), which specialises in the management of cruise terminal, today announced an offer to acquire the the remaining capital of the company with the intention of implementing subsequently the delisting of GPH, which is listed on the Stock Exchange of London. The other major shareholder of Global Ports Holding Plc is the London-based investment firm Centricus.

The offer, which will be submitted by Global Ports Holding B.V., is based on a price of three dollars per share compared to today's market opening price of 245 cents of a pound ($3.12) and compared to a price that In the last year, it has fluctuated between 180 and 290 cents of pound. The proposal allocates to the 76.4 million outstanding shares of GPH valued at $229 million.

Specifying that GIH and Global Ports Holding B.V. are in negotiations with possible financiers, the Turkish group specified that Global Ports Holding B.V. must have to submit the offer, even if based on a price lower than the announced today, or notify by the same date of the waiver of the advance it.

In the first three months of 2024, the port terminals managed by GPH that fall within the scope of the company's consolidation (excluding then the activities in La Goulette, Lisbon, Singapore, Venice and Vigo) recorded a traffic of 3.23 million cruise passengers, with an increase of +30.4% over the same period of 2023, of which 2.15 million passengers at terminals in the Americas (+39.8%), 913,000 in terminals in the western Mediterranean and on the coast Europe (+9.2%), 129,000 passengers in terminals in the Central Mediterranean (+55.2%) and 38 thousand in those in the Mediterranean Eastern (+90.6%).

In the first quarter of this year, the company's revenues were amounted to $42.4 million (+6.8%) and Adjusted EBITDA was Profit of €19.3 million (+43.0%).

Recall that two years ago GPH was the subject of a project for the acquisition of the Mediterranean shipping group Shipping Company That Ended Without Outcome ( of 16 June and 12 July 2022).