The Port of Malaga has opened a public auction for 20% of the shares currently held by the Port Authority in the company Cruceros Malaga. A total of 1,540,000 shares will be sold in a single lot. The winning bidder would be Creuers del Port de Barcelona, which owns 80% of the operator that manages the three terminals for large cruise ships in the capital.
The decision, which dates back to 2014, was prompted by a change in legislation. "If you're involved in port management and also in a company, you're both judge and jury," explained the port's president, Paulino Plata, yesterday. Furthermore, the board of directors approved this offer on June 27, in accordance with the medium-term divestment plan agreed upon with State Ports. During this time, the shares were offered preferentially to the main shareholder, who ultimately did not exercise their right of first refusal.
Interested parties may submit their bids until 2:00 p.m. on January 31, 2017, at the Port Authority Headquarters.
In exchange for their contribution, the new partner will become part of the management company for the three terminals intended for tourist ships.
