AX Holdings increases shareholdings in cruise terminal with sale of MIA, BOV and FSG stakes to Turkish port management operator Global Liman Isletmeleri
AX Holdings has increased its shareholding stake in the Valletta Cruise Port plc to 36.37% with the sale of shareholdings in Valletta Cruise Port plc by Malta International Airport, Bank of Valletta and FSG Limited.
“The AX Group board is confident that Valletta Cruise Port plc will continue to expand in the near future. They believe they will do this through the development of both the landside and seaside operations,” the group said in a statement.
A 31% shareholding in Valletta Cruise Port plc, owned by Malta International Airport, BOV and FSG Limited, was acquired by Turkish port management operator Global Liman Isletmeleri. Global Liman Isletmeleri operates and manages ports primarily in Turkey, Montenegro, Spain, and Singapore. The company operates the Kusadasi Cruise Port, Antalya Port, Bodrum Cruise Port, Port of Bar, Cruers, Izmir Port, and Malaga port. It also engages in real estate; storage; and marine vehicle trade operations.
AX Holdings is a group of companies involved in four essential sectors being construction, development, hospitality and healthcare. On the other hand Valletta Cruise Port plc is the operator of the Valletta Cruise and Ferry Terminal facilities as well as that of the Valletta Waterfront destination.
This year has been a record year of investments for the company and the latest in the Valletta Cruise Port plc compliments others already made by AX Holdings Ltd during 2015. Investments included the acquisition of the Luzzu Restaurant and Complex, the renovation project for the Seashells Resort at Suncrest and the completion of Hilltop Gardens retirement village.
