EBRD Denies It Acquired the Port of Giurgiulesti for € 1000: the Transaction Value Is Confidential

On May 7, 2021, the EBRD became the sole active legal owner of the port operator of Giurgiulesti. Through its acquisition, representatives of the European Bank for Reconstruction and Development declare that they strive to promote the port's activities and attract international investors to support and further develop this infrastructure facility, nokta.md reports. “The EBRD's support for the project began in 1995 when it provided a US $ 27.5 million loan and equity financing package to Terminal SA, a joint venture that entered into a concession agreement with the Moldovan government for the construction and operation of the port of Giurgiulesti. The EBRD continued to engage in a series of challenging financial restructurings to help the project overcome a number of challenges, including the departure of the original investors. Since 2014, a port operator called Danube Logistics SRL, its Dutch parent company and, indirectly, the EBRD have been subjected to various actions. To ensure the safety of port operations and protect its financial interests, on  May 7, 2021, the EBRD became the sole legal owner of the port operator of Giurgiulesti. Through its acquisition, the EBRD seeks to support the port's continued operations and will seek to attract international investors to support and develop this key infrastructure asset,” the EBRD said in a press release. The EBRD denies that it paid only 1,000 euros for the port. “The document circulated in some media outlets indicates the par value of the shares of Thomo Invest Ltd, the former indirect owner of Danube Logistics, which the EBRD acquired on May 7, 2021. The cost of the transaction is different and remains confidential," the EBRD representatives said. As a reminder, the European Bank for Reconstruction and Development (EBRD) acquired 100% of the capital of the Danube Logistics Group of Companies on May 7, 2021. Under these conditions, the EBRD became the sole beneficial owner of Danube Logistics SRL, the operator of the Giurgiulesti International Port.