The European Bank for Reconstruction and Development (EBRD) acquired 100 per cent of the capital of the Danube Logistics Group of companies on 7 May 2021. The EBRD thereby became the sole ultimate owner of Danube Logistics SRL, the operator of Giurgiulesti International Free Port, IPN reports.
According to a press release, through its acquisition, the EBRD aims to promote a continuation of the successful operation and development of Giurgiulesti International Free Port and will seek to attract international investors to further support and develop the port.
The EBRD has supported the construction and operation of Giurgiulesti International Free Port since 1995 and in 2013 replaced Credit Suisse as the primary economic beneficiary of the operation of the port following the refinancing of Danube Logistics’ outstanding loans by Credit Suisse.
As the port’s owner the EBRD expects the prompt fulfillment of all outstanding investment obligations stipulated in the Investment Agreement of 2004 signed between the Moldovan state and the then investors so as to benefit and boost the economic development of Moldova.
The EBRD is owned by 69 countries – including Moldova – as well as the European Union and the European Investment Bank. With cumulative investment of €1.4 billion in the country to date, the EBRD is the largest foreign investor in Moldova.
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