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DJ Completes the sale of Port Akdeniz, creating a pure-play cruise operator
Global Ports Holding PLC (GPH)
Completes the sale of Port Akdeniz, creating a pure-play cruise operator
26-Jan-2021 / 07:00 GMT/BST
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Global Ports Holding Plc
Completes the sale of Port Akdeniz, creating a pure-play cruise operator
Global Ports Holding Plc ( GPH or Group ), the world s largest independent cruise port operator, is pleased to
announce that further to the announcement of 21 October 2020, all conditions precedent to the sale of Ortadogu Antalya
26 January 2021 | 09:56am
StockMarketWire.com - Cruise port operator Global Ports said it completed the $140m sale of Ortadogu Antalya Liman Işletmeleri, or Port Akdeniz, to QTerminals after securing regulatory and government clearances.
All conditions precedent to the sale including obtaining regulatory clearance and approval from relevant Turkish government authorities, had been satisfied, the company said,.
As a result of the disposal, GPH will become a more geographically diversified business, with Turkey representing a significantly reduced proportion of group revenue going forward, the company said.
Revenue from Turkish assets represented 47.0% of total revenue in the year ended 31 December 2019; following the disposal of Port Akdeniz, revenue from remaining Turkish assets represent about 10% of 2019 pro-forma revenues, it added.
Tue, 26th Jan 2021 19:25
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
Manolete Partners PLC - insolvency litigation financing firm - Says record case completions and record completed case cash inflows . Says completed 95 cases in nine months ended December 31, at gross settlement value of GBP23.9 million, comfortably exceeding board expectations . Gross cash collected from completed cases in the first nine months of financial year up 60% annually to record of GBP9.3 million. The board expects realised profits to be above, but unrealised profits to be significantly below, market expectations and therefore for the company to be overall marginally EBIT profitable in H2, Manolete adds.
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