24th Jan 2020 11:09
(Alliance News) - Global Ports Holding PLC on Friday said its ownership in the Malaga cruise port concession has increased following a purchase by joint venture company Creuers Del Port de Barcelona SA.
Cruise port operator Global Ports holds a 62% stake in Creuers, which paid EUR1.5 million for the remaining 20% Malaga cruise port holding it did not already hold.
With Creuers now entirely owning the Malaga cruise port concession, Global Ports now also holds a 62% stake in the concession versus a 50% stake previously.
Global Ports said the deal aligns with its "strategy to buy out, at fair value, minority shareholdings where possible and appropriate to do so."
Shares in Global Ports were down 0.9% at 235.30 pence in London on Friday morning.
By Anna Farley; [email protected]
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