Global Yatirim Holding has announced that its port operator, Global Ports Holding, has inked a binding deal to buy a 30.79 percent stake in Valetta Cruise Port Plc (VCP), which has operational rights of the Malta cruise port and its retail areas.
The stakes transfer's completion will depend on the finalization of required legal and administrative approvals as well as future decisions by other partners of VCP about acquiring any more stakes.
VCP secured the operational rights of the Valetta Cruise Port in Malta, along with its accompanying buildings and lands measuring over 48,000 square meters, in a global tender in 2002 for the next 65 years. The company has also implemented retail sales through Travel Shopping Ltd, with some 90% of stakes owned by it.
VCP, which plans to provide services to 650,000 cruise passengers this year, wants to increase its passenger numbers and home-porting passenger rate, which is around 20 percent now.
The stakes transfer's completion will depend on the finalization of required legal and administrative approvals as well as future decisions by other partners of VCP about acquiring any more stakes.
VCP secured the operational rights of the Valetta Cruise Port in Malta, along with its accompanying buildings and lands measuring over 48,000 square meters, in a global tender in 2002 for the next 65 years. The company has also implemented retail sales through Travel Shopping Ltd, with some 90% of stakes owned by it.
VCP, which plans to provide services to 650,000 cruise passengers this year, wants to increase its passenger numbers and home-porting passenger rate, which is around 20 percent now.