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Fortsakis Diakopoulos & Associates Advises HRADF on Sale of Heraklion Port Authority to Grimaldi Euromed and Minoan Lines

Fortsakis Diakopoulos & Associates Advises HRADF on Sale of Heraklion Port Authority to Grimaldi Euromed and Minoan Lines

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Fortsakis Diakopoulos & Associates has advised the Hellenic Republic Asset Development Fund on the sale of a 67% stake in the Heraklion Port Authority to a consortium consisting of Grimaldi Euromed and Minoan Lines.

The Hellenic Republic Asset Development Fund is a direct subsidiary of the Hellenic Corporation of Assets and Participations which was established in 2016 in the aftermath of the Greek debt crisis.

The Grimaldi Group is a shipping passenger transport operator in Northern Europe and the Mediterranean.

Minoan Lines is a passenger ferry company operating in Europe.

According to Fortsakis Diakopoulos & Associates, “this transaction signals a new era of development for the Heraklion Port. The HRADF acquires a strategic partner who has an ambitious investment program, aiming to exploit the strategic position of Heraklion in the Eastern Mediterranean for the development of new commercial flows, the strengthening of cruises, and the transport of new vehicles, as well as make the port of Heraklion a truly 'green' port through investments in renewable energy sources.”

The Fortsakis Diakopoulos & Associates team included Senior Partner Dimitris Diakopoulos, Partner Nikolas Avgouleas, Counsels Grigoris Livieratos and Nikoletta Beneki, and Associate Eleni Souli.

Fortsakis Diakopoulos & Associates did not respond to our inquiry on the matter.

Editor’s Note: After this article was published, Kyriakides Georgopoulos announced it had advised the Grimaldi Group on the deal. The firm’s team included Senior Partner Konstantinos Vouterakos, Partners Constantinos Kavadellas and Anastasia Dritsa, and Counsel Vasileos Douzenis.

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