Italian private equity invests in Turkish port operator

Star - Private equity VEI Capital SPA (VEI), owned by Italian investment group Palladio Finanziaria, acquired a 22.1 percent stake in the Turkish port operator, Global Ports Holding with a USD 77.3 million deal. The Italian company will raise its stakes to 25 percent after three years.

Global Ports holds the operating rights of Port Akdeniz in Antalya, one of the key ports in the Eastern Mediterranean and two ports on Türkiye’s Aegean coast, Ege Ports-Kusadasi and Bodrum Cruise Port, which are both tourist hotspots.

The first investment by the relatively new company VEI, established in September 2010, demonstrates rapidly-growing Türkiye’s unique investment opportunities, said VEI Capital General Manager Gianandrea Rizzieri, commenting on the deal.