Turkish Global Ports Holding (GPH) has acquired a majority stake in Container Terminal and General Cargo (CTGC) for a total of EUR 8 million. BDK Advokati/Attorneys at Law advised Turkish Global Ports Holding (GPH) in relation to all legal aspects of the acquisition of CTGC. In addition to the agreed purchase price, GPH is also obliged to invest EUR 21 million in the modernization of CTGC making the total deal value to approximately EUR 30 million.
In parallel with negotiations over the sale and purchase agreement, CTGC has signed a concession agreement that will allow it to operate Port of Bar (Luka Bar) for the next 30 years.
BDK’s Partner Vladimir Dašić and Managing Senior Associate for the office in Montenegro Luka Popović headed the deal while Partner Dragoljub Cibulić led negotiations over the concession agreement.
BDK Advokati/Attorneys at Law are continuing to assist GPH to obtain the necessary regulatory and antitrust approvals to complete the transaction.
