The European Bank for Reconstruction and Development, the ultimate beneficiary of the Giurgiulesti International Free Port (GIFP), has launched a structured mergers and acquisitions (M&A) process through an international tender in order to identify potential strategic and financial investors who can further support the successful long-term development of this strategic asset, the bank said in a press release.
Coordination with the Moldovan government is underway, including with regard to the port’s future commercial and legal framework aimed at facilitating inward investment in full compliance with international best practices and standards for the sector.
Since the acquisition of ISPA in 2021, the EBRD has improved the efficiency, throughput volumes and profitability of the enterprise. The Bank has consistently stated its intention to attract reputable investors to further support and develop the port as a competitive center for regional and international trade.
Raiffeisen Bank is advising the EBRD on this M&A process.
The port is located on a short stretch of Moldova’s Danube River coast and borders both Romania and Ukraine. As Moldova’s main port, it handles over 70% of Moldovan waterborne imports and exports, providing supply chains for the RM for various types of cargo. Its strategic role in the region has increased and the port is well positioned to serve the future recovery of Ukraine.
The EBRD has supported the construction and operation of the Giurgiulesti International Free Port since 1995. Throughout its history, the port has faced various financial and operational challenges while developing as a fully functional enterprise. In 2013, the EBRD provided a new loan and became the main economic beneficiary of the operation of the GIFP.
In 2021, the EBRD acquired 100% of the capital of Danube Logistics Group, becoming the sole ultimate owner of Danube Logistics SRL, the operator of the ISPA.
