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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
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.
GPH completes sale of Turkey s Port Akdeniz, mulls disposal of port operator in Montenegro xbrchx/Shutterstock.com
ANKARA (Turkey), January 26 (SeeNews) - UK cruise port operator Global Ports Holding said on Tuesday it completed the sale of Turkish company Ortadogu Antalya Liman Isletmeleri (Port Akdeniz), which operates the Akdeniz-Antalya port, to Qatari peer QTerminals W.L.L. for an enterprise value of $140 million (115.4 million euro).
The equity value for the seller after deducting net debt and debt-like items of Port Akdeniz as at closing is $115 million, while the buyer will withhold $11.5 million as a security for potential claims, which will be released in the fourth quarter of 2021, Global Ports said in a statement.
TRADING UPDATES: Manolete Sets Records; Ergomed Earnings Top Forecasts
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.
11 Jan 2021 - 8:24
File photo used for representation only.
Sachin Kumar/ The Peninsula
The close relations between Qatar and Turkey have resulted in strong Foreign Direct Investment (FDI) flows between the two brotherly countries.
The FDI inflows from Qatar to Turkey reached $2.7bn as of April 2020. The total value of Qatari FDI stock in Turkey was $22bn as of December 2019, according to ‘Qatar-Turkey Bilateral Trade & FDI Report’, compiled jointly by the Presidency of the Republic of Turkey Investment Office and the Investment Promotion Agency Qatar.
The FDI inflows from Qatar to Turkey in 2019 were $570m, which was the highest in the last decade. Since 2011, there has been $29m of FDI inflows from Turkey to Qatar. Between 2013 to 2017, the value of Turkish FDI stock in Qatar was $363m.