Iraklio Port Authority

The controlling stake of 67% in Iraklio Port Authority will be transferred in the next few weeks to Italy's Grimaldi Group, which prevailed in the relevant tender. It will be preceded by the ratification of the concession contract by the Parliament and the financial settlement of the transaction.

Italian group Grimaldi, which controls 100% of Minoan Lines, bid 80 million euros for 67% of the Iraklio Port Authority and is acquiring a second Greek port of international interest.

The financial offer of the Italian group values the entire share capital of the largest port of Crete at €120 million.

The opening of the binding financial offers for 67% of Iraklio Port Authority had been scheduled for Thursday, but this is no longer expected to happen.

Both contenders have asked to examine the legalization documents of their competitor.

Their new deadline expires early next week, so it is likely that the financial bids will be unsealed at the board meeting next Thursday.