Grand Harbour Marina acquires stake in Cesme Marina, Turkey

Grand Harbour Marina plc has sealed a major investment deal for the acquisition of a stake in IC Cesme Marina, Turkey. The company will acquire the equity in Cesme Marina previously owned by Camper & Nicholsons Marina Investments.

The acquisition of 45 per cent of issued share capital, funded out of the proceeds of the 2010 bond issue, furthers Grand Harbour Marina’s business of acquiring, operating and managing marinas, with a focus on the Mediterranean basin.

Lawrence Zammit, chairman of Grand Harbour Marina plc said that IC Cesme Marina is a great investment for the company’s shareholders and bond holders and is well positioned to benefit from the fast growth of the Turkish market.

“Turkey has been very successful with the significant steps it has made to expand the marine sector, it has also established a good reputation as an important yachting destination and we are looking forward to being a part of this,” he said.

Cesme Marina opened in June 2010 and had a very a successful first season with some 200 yachtsmen choosing it as their home port. The vibrant marina village, with 55 shops, attracted up to 15,000 visitors daily during the summer months.

Cesme Marina is situated only 45 minutes west of Izmir, the third largest city in Turkey, and home to an international airport. Izmir and the surrounding area is known for its cosmopolitan lifestyle and wealthy inhabitants which make it a popular tourist destination.

The marina village at Cesme offers a wide selection of shops, bars and restaurants, as well as a yacht club, chandlery and supermarket. Yacht owners and land-lovers alike can enjoy popular brand names such as GANT, Quicksilver, Calvin Klein, Henri Lloyd and Nike, as well as some more local Turkish boutiques. Visitors will also enjoy a busy events calendar including the Eastern Mediterranean Yacht Rally, Cesme Festival, Wine Festival, and Marine Show.

Cesme Marina is operated by Camper & Nicholsons Marinas which is also responsible for the management of Grand Harbour Marina in Vittoriosa.

Grand Harbour Marina plc. is a public liability company registered in Malta and listed on the Malta Stock Exchange. It is a majority owned subsidiary of Camper & Nicholsons Marina Investments Ltd.