The European Bank for Reconstruction and Development (EBRD) announced on June 23 that it has received “multiple binding offers” for the acquisition of Giurgiulesti International Free Port (PILG), Moldova’s main port. Romanian and Bulgarian ports have expressed their interest in PILG in the past, but the EBRD has not provided details about the offers received.
Romania has placed a non-binding offer to acquire Danube Logistics (Moldova), the operator of Moldova’s only maritime port, Giurgiulesti, according to a document consulted by Profit.ro on May 16. The bid was submitted on April 24 by Romania’s state-owned National Company Administration of Maritime Ports (CN APM), which manages the Port of Constanța. It remains unclear whether a binding bid was submitted in the meantime.
Romania has publicly expressed its intention to take over the port in 2023. The main competitor for Romania seems to be MBF Port Burgas, owned by local entrepreneurs.
The EBRD says that following a competitive process, it is now progressing with advanced negotiations with the shortlisted bidders.
The interest received from regional and international bidders reflects the port’s pivotal role in Moldova’s economy, handling over 70% of the country’s waterborne import and export trade, securing supply chains for the country, and significantly benefiting its economy, the EBRD commented in its June 23 press release.
The bank is working closely with its advisors to ensure that the selected investor will bring the necessary expertise and long-term commitment to further develop the port’s infrastructure and operations.
The ongoing M&A process is being conducted in coordination with the government of Moldova to ensure compliance with national legislation, the EBRD assures. Moldovan president Maia Sandu said in 2023 that the sale of the port by the EBRD will only be cleared after the case involving Alyiev and Moser is closed.
iulian@romania-insider.com
(Photo source: Ebrd.com)
Leave a Reply