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Global Ports completes $140m sale of Port Akdeniz to QTerminals
StockMarketWire.com
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Cruise port operator Global Ports said it completed the $140m sale of Ortadogu Antalya Liman Işletmeleri, or Port Akdeniz, to QTerminals after securing regulatory and government clearances.
All conditions precedent to the sale including obtaining regulatory clearance and approval from relevant Turkish government authorities, had been satisfied, the company said,.
As a result of the disposal, GPH 'will become a more geographically diversified business, with Turkey representing a significantly reduced proportion of group revenue going forward,' the company said.
Revenue from Turkish assets represented 47.0% of total revenue in the year ended 31 December 2019; following the disposal of Port Akdeniz, revenue from remaining Turkish assets represent about 10% of 2019 pro-forma revenues, it added.
At 9:56am: (LON:GPH) Global Ports Holding Plc share price was 0p at 76.5p
Story provided by StockMarketWire.com
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