Grimaldi Group expands in Greece

Heraklion signing ceremony (Photo: Grimaldi Group)

The Grimaldi Group, an Italian private shipping company, has acquired a 67% majority stake in the Heraklion Port Authority (HPA) for the price of EUR 80 million.

This move comes after its recent acquisition of the Igoumenitsa Port Authority. The Heraklion port, the largest in Crete, was sold by the Hellenic Republic Asset Development Fund (HRADF) and Growthfund, entities that manage Greece's public assets. The signing ceremony in Athens included Greek ministers and Grimaldi Group executives.

The aim is to enhance Heraklion port's role as a Mediterranean transit hub, with plans for sustainable growth and renewable energy investments. The Greek government retains a 33% stake in the port. (pb)

www.grimaldi.napoli.it