Last checked at 
Global Ports Holding PLC - London-headquartered cruise port operator - Agrees to sell Ortadogu Antalya Liman Isletmeleri - which operated Port Akdeniz-Antalya in Turkey to Qatari port terminal operator QTerminals WLL for an enterprise value of USD140 million.
Sale is conditional on certain regulatory clearances and approval from Turkish government authorities, and company expects deal to close within the fourth quarter of 2020.
A completed sale is part of Global Ports Holding's refinancing strategy for the USD250 million eurobond due November 2021.
"Port Akdeniz has been an integral part of GPH since 2006, and it has played a pivotal role in the successful development of the group over the years. However, as GPH continues to pursue growth in the exciting cruise port market, it is now time for the stewardship of Port Akdeniz to pass to an organisation that is primarily focused on the Commercial port market," said Chair Mehmet Kutman.
Current stock price: 71.20 pence
Year-to-date change: down 70%
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
