The Grimaldi Group has successfully acquired 67% of Heraklion Port Authority S.A. (HPA S.A.) for €80 million (US$90 million), marking a significant milestone in the port’s development.
The acquisition was made through Holding of Heraklion Port S.A., a consortium formed by Grimaldi Euromed S.p.A. and Minoan Lines S.A.
The signing ceremony took place at the Heraklion Port premises in Crete, Greece, and was attended by high-ranking officials, including Kostis Hatzidakis, Minister of Economy and Finance, and Christos Stylianides, Minister of Maritime Affairs and Insular Policy.
This acquisition follows an official tender process managed by the Hellenic Republic Asset Development Fund (HRADF), responsible for privatising key public assets in Greece, including ports. With Grimaldi at the helm, the port is set to undergo significant development and modernization, entering a new phase of growth.
HRADF retains 33% of the shares, making them a strategic partner in this new venture.
According to Greece’s Minister of Economy and Finance, Kostis Hatzidakis, 50% of the fee will be allocated for the development of ports in HRADF’s portfolio, satisfying a long-term demand of the local community.
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