KG is proud to supported Grimaldi Group in the second successful privatization project for major regional ports

On 18 December 2023, the Share Purchase Agreement for the acquisition of a 67% interest in the HERAKLEION PORT AUTHORITY S.A. has been signed between the seller HRDAF and the winning consortium GRIMALDI EUROMED S.P.A. and Minoan Lines S.A. The signing ceremony took place in the presence of, amongst others, the Ministry of Finance Kostis Hatzidakis, the Ministry of Shipping and Insular Policy Christos Stylianides, the Minister of Rural Development Lefteris Avgenakis, the CEO of the GrowthFund-the National Fund of Greece, Gregory D. Dimitriadis, the head of HRDAF Dimitrios Politis and the CEO of Grimaldi Group, Emanuele Grimaldi. 
 
#KGLawFirm is proud to continue supporting Grimaldi Group in the second successful privatization project for major regional ports, following the completion of the Igoumenitsa Port Authority project in late October. The amended Concession Agreement (extended to 2062) will provide new development opportunities for Herakleion port in terms of new trade flows for passengers and freight, ranging from cruising to the transport of new vehicles, while serving sustainable growth purposes to make Herakleion a true green port and a landmark for the entire Mediterranean region.
 
During the two-year term of the project, KG deployed a multi-member team to meet the project needs, that was led by senior partner Konstantinos Vouterakos and counsel VASILEIOS DOUZENIS, while key support was provided by public law partner Constantinos Kavadellas and competition partner Anastasia Dritsa. Many thanks to the entire Grimaldi Group project team, and more particularly, Vincenzo Scarlato, Group CFO, Paul Kyprianou, the CEO of HPA S.A. and Loukas Sigalas, the CEO of Minoan Lines S.A., for their cooperation in this complex and demanding project. We are looking forward to supporting Grimaldi Group for the successful closing of this project following the enactment of the ratification law by the Greek Parliament expected to occur within Q2 2024.