The EBRD wants to sell the Giurgiulești Libel International Port, the bank announced on Monday, specifying that it launches the international auction procedure in order to identify a new investor for the strategic port of the Republic of Moldova.
BERD wants to sell the port of Giurgiulești in the Republic of Moldova. Photo archive
The European Bank for Reconstruction and Development (EBRD), the owner of the Giurgiulești Free International Port, the main maritime-rally port of the Republic of Moldova, has launched a structured process of mergers and acquisitions (M&A) through an international auction procedure, in order to identify potential strategic and financial investors who can support this strategic development.
“The process of merger and acquisition is underway and is carried out in full coordination with the Government of the Republic of Moldova, including in terms of the future commercial and legal framework, meant to facilitate internal investments in accordance with the best international practices and standards in this field.
Since the purchase of the Giurgiulești Libiu International Port in 2021, the EBRD has increased the efficiency, the volume of production and its profitability. EBRD has constantly declared its intention to attract renowned investors to continue to support the port and to turn into a competitive center for regional and international trade ”the bank informed Monday.
The EBRD is advised in this process of merger and acquisition by Raiffeisen Bank. The port is located on a short portion of cliff at the Danube in the Republic of Moldova and is adjacent to both Romania and Ukraine. As the main port of the Republic of Moldova, it manages over 70% of the import and export trade realized in this country, providing Moldovan supply chains for multiple types, bringing significant benefits to the Moldovan economy and playing an essential role in its future growth. Its strategic role has grown in the region, and the port is well positioned to serve the future reconstruction of Ukraine.
The EBRD supports the construction and operation of the Giurgiulești Libiu International Port in 1995. Throughout its history, the port has faced various financial and operational difficulties in the development process as a fully functional entity. In 2013, the EBRD granted a new loan and became the main economic beneficiary of the port operational.
In 2021, the EBRD purchased 100% of the capital of the Danube Logistics group, becoming the only final owner of Danube Logistics SRL, the port operator.
