The Hellenic Republic Asset Development Fund (HRADF) has announced the signing of the share purchase agreement for the acquisition of a majority stake of 67% in the share capital of the Igoumenitsa Port Authority (IPA S.A.).

The agreement closed for a total price of EUR84.17 million (US$91 million) between the Fund and the joint venture consisting of the companies Grimaldi Group, Minoan Lines and General Commercial & Industrial S.A. The signature of the share purchase agreement takes place after the approval of the Court of Auditors.

This agreement will contribute to the full realization of the potential and competitive position of the Port of Igoumenitsa, for the benefit of the local community and the Greek economy.