Investor Declared for acquisition of 67% stake in share capital of Heraklion Port Authority S.A.

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The Hellenic Republic Asset Development Fund (HRADF) has declared the Preferred Investor for the acquisition of a 67% majority stake in the share capital of Heraklion Port Authority S.A. (H.P.A. S.A.).

After reviewing the submitted offers, HRADF has chosen to award the tender to the consortium comprising Grimaldi Euromed S.p.A. and Minoan Lines S.A. The contract is valued at a total of EUR80 million(US$87 million). This tender is a significant component of the strategic plan aimed at improving the infrastructure of Crete, which includes the construction of the Northern Road Axis of Crete and the New International Airport of Heraklion. The signing of the Share Purchase Agreement will occur once the pre-contractual audit is completed.

The Heraklion Port handles a wide range of maritime activities, including ferry services, cruise ships, and commercial shipping. It provides connections to various Greek islands, including Santorini, Mykonos, and Rhodes, as well as mainland Greece and international destinations. The port facilities consist of multiple piers, terminals, and storage areas, enabling the efficient handling of both passengers and goods. 

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