QInvest, the leading investment bank in Qatar, has advised Qatari port operator, QTerminals, on a sale and purchase agreement for the acquisition of a 99.99 percent stake in Turkey’s Akdeniz Port from Global Ports Holding (GPH), the world’s largest independent cruise port operator.
Neville Bissett, CEO of QTerminals, said: “Akdeniz Port is an important strategic starting point for our expansion into Turkey. We are committed to developing and operating the Port to the highest levels of efficiency and safety. We share this success with our financial advisor, QInvest, who we thank for their invaluable help in guiding QTerminals through this milestone acquisition.”
Tamim Hamad Al Kawari, Chief Executive Officer of QInvest, said: “The success of this transaction is a testament to the efforts of all parties involved. We are pleased to have arranged this cross-border transaction for our client, QTerminals, and we look forward to partnering with them again on future mandates.”
He added: “Despite the challenging market conditions, QInvest continues to maintain an active investment book and a healthy pipeline of deals. Turkey represents a core strategic market for QInvest, and I’m confident that our track record, team and strategy operating across international markets will continue to provide investors with access to exciting investment opportunities over the coming months.”
Led by Hussein Fakhreddine, Head of Investment Banking, and Can Guclu, Head of QInvest Turkey, QInvest supported QTerminals’ first cross-border acquisition across all stages of the transaction. Hussein Fakhreddine said: “We would like to congratulate both teams on their herculean effort to get this acquisition signed regardless of the difficult global prevailing conditions.”
