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Istanbul Fashion Week >>
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Bozcaada >>
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1st Istanbul International Opera Festival >>
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Open Air Museums in Turkey >>
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Current News
Turkey’s Global aims to be a global player in ports
July 21, 2010
Hürriyet Daily News
Global Liman İşletmeleri, the port administration unit of Global Investment Holdings, is considering the purchase of ports in Belize and Roatan in the Caribbean.
The company, which will soon take over a 100-percent share of Port Akdeniz in the southern province of Antalya, has also hired İş Investment for an initial public offering.
Global’s 100-percent affiliate, Global Liman İşletmeleri, recently initiated talks to purchase the Belize and Roatan ports, according to a statement from Global Yatırım Holding.
The Belize port sits on the Caribbean coast of Belize city and is managed jointly by Fort Street Tourism Village and Diamonds International of Florida, serving up to 850,000 cruiser passengers annually.
Roatan Port, on the Roatan Island of Honduras, is run in a partnership between Royal Caribbean Cruises – at 99 percent – and the Honduras government. The port serves 400,000 cruiser passengers annually.
When Belize and Roatan ports are added to Global Liman’s current portfolio, the cruiser port network of the company will be among the most prominent in the world with a passenger capacity of 4.5 million.
Meanwhile, Global Liman will be entitled to run 100 percent of Port Akdeniz by taking over the 60-percent share owned by other shareholders by the end of the month. While Global Liman owns 40 percent of Port Akdeniz, the other shareholders are Çelebi Holding and Antmarin, at 40 percent and 20 percent, respectively.
Preparing to offer shares to public
Global Liman also signed an authorization contract with İş Investment, hiring the firm to lead a consortium for an IPO of Global’s shares.
Evaluating these recent developments, Global Investment Holdings Chairman Mehmet Kutman said the company’s primary aim was to expand its activity field in Turkey, the eastern Mediterranean and the Black Sea region, while turning Global Liman into an international commercial and cruiser port operator.
“We took a significant step in being a global actor with the two Caribbean ports we have been negotiating to purchase,” Kutman said.
“Our aim is to maintain that Port Akdeniz multiply its general and bulk load, as well as its container load capacity in the following years and to turn in it into one of the most securely, efficiently and productively administered and managed multi-functional ports of Europe, and render it one of Turkey’s indispensable trade gate,” he said.
Kutman also said Global decided on an IPO to share the growth potential and the stability of the company with investors, which it had attained by the acquisition of its international ports.
“We consider it significant in terms of profitability and growth to take part in the stock exchange,” Kutman said, according to a press statement released Tuesday.
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