The signing of the agreement with Hellenic Republic Asset Development Fund (HRADF) – a member company of Growthfund-The National Fund of Greece – took place at the premises of HPA S.A. in Heraklion, Crete. The ceremony was attended by the Greek Minister of Economy and Finance, Kostis Hatzidakis, the Minister of Maritime Affairs and Insular Policy, Christos Stylianides, the First Vice President of the Hellenic Parliament, Giannis Plakiotakis, the Bishop of Knossos, Methodios, the Governor of the Region of Crete, Stavros Arnaoutakis, the Mayor of Heraklion, Alexis Kalokairinos, the CEO of HRADF, Dimitris Politis, the President and CEO of Grimaldi Euromed S.p.A., Emanuele Grimaldi, the CEO of Minoan Lines S.A., Loukas Sigalas, the President of the Board and Managing Director of Holding of Heraklion Port S.A., Paul Kyprianou, the Concessions Senior Manager of Growthfund, Dimitris Konstantakopoulos, the CEO of HPA S.A., Minas Papadakis, the President of the Board of Directors of HPA S.A., Ioannis Vardavas, and executives from HRADF. 

The acquisition of a majority stake of the capital of Heraklion Port Authority S.A. by the Grimaldi Group followed a tender conducted by HRADF, which manages the program of privatization of ports and other public assets in Greece.

The port of Heraklion enters a new era of growth with Grimaldi. HPA S.A. acquires a strong shareholder, and HRADF, which retains 33% of the share capital of the Authority, has now a strategic partner.

In his speech, Grimaldi Euromed S.p.A. President and CEO, Emanuele Grimaldi, underlined the long-term, investment-oriented vision that inspired this acquisition: “We have an ambitious investment program aimed at fully leveraging Heraklion's strategic location in the Eastern Mediterranean. This port has great potential for new trade routes for both passenger and freight transport, including cruises and vehicle shipments. We are keenly aware of this, having been its primary client for many years through the Grimaldi Group Heraklion-based company Minoan Lines. With our investments in renewable energy, we will also support the Port's sustainable growth and transform Heraklion into a truly green port and a model for the Mediterranean port sector. Our ultimate goal is to foster improved services for the Port, increased trade activity, more tourism, more business opportunities, job creation, and greater prosperity for the city of Heraklion, the island of Crete, and Greece as a whole.”

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