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 remainder of the concession for Malaga Cruise Port for €1.5 million.
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 as well due to its excellent location making it a great transit port of call and the gateway to Andalucia giving cruise guests an opportunity not only to explore Malaga but also this wonderful region. 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.”