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Global Ports Holding starts strategic review of cruise port activities

Istanbul, Turkey (PortSEurope) July 5, 2019 – Global Ports Holding Plc (GPH), the world’s largest independent cruise port operator, has announced that it is undertaking a strategic review of the group’s activities, which is being carried out by Goldman Sachs International.

GPH has said that the review is exploring ways to maximise value for all stakeholders, and may include asset disposals, strategic investments and partnerships.

The company has also confirmed that it has received a number of preliminary offers for certain assets which it is evaluating.

Global Ports Holding Plc is the world’s largest cruise port operator with an established presence in the Caribbean, Mediterranean, Asia-Pacific regions, including extensive commercial port operations in Turkey and Montenegro.

Around the Mediterranean Sea, GPH has operations in Lisbon (Portugal), Cagliari, Catania, Ravenna, Venice (all Italy), Malaga, Barcelona (both Spain), Valletta (Malta), Adria (Montenegro), Zadar (Croatia), Ege, Bodrum and Akdeniz (all Turkey).

This follows an announcement by the company a day earlier of a reorganisation of its cruise operations under a new regional structure, with three Regional Directors to manage East Mediterranean, West Mediterranean and Americas regions.

Javier Rodriguez, current General Manager of Barcelona cruise port will be appointed Regional Director – West Med, which currently includes Barcelona, Malaga, Lisbon and Singapore ports. Aziz Gungor, current General Manager Ege Port- Kusadasi will become Regional Director – East Med, which currently includes Ege Port, Bodrum, Antalya, Zadar and Bar cruise ports. Stephen Xuereb, Chief Operating Officer will for now act as Regional Director – Central Med, which currently includes Valletta, Cagliari, Catania and Ravenna ports. Michael Maura Jnr who has recently joined the Group will become Regional Director – Americas.

Regional Directors will report into Stephen Xuereb, Chief Operating Officer.

Emre Sayin, CEO of Global Ports Holding said:”Our new organisational structure is another step forward in the evolution of the Group. It reflects our growing operations and will help provide a strong platform for our next stage of growth, while maintaining operational discipline across the current portfolio. I would like to take the opportunity to congratulate our Regional Director’s for their new roles and to welcome Michael Maura Jnr to the GPH team.”

Source: GPH

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