Mariner ready to spend PLN 180 mln to acquire Port of Gdańsk

Mariner, a developer from Malta and operator of sea terminals revealed the details of an offer it had made regarding Port of Gdańsk (PGE) acquisition, in total the company plans to commit around PLN 180 million. The developer informed that it had offered over PLN 80 million for a 100 percent stake in PGE, it also going to to invest €26 million (roughly over PLN 100 million) if it wins the tender. "According to our estimates, the price exceeds the firm's valuation, but we would like to share with ZMPG [the management of the port] the value of the potential we see in PGE," Marin Hili, the owner of Mariner's said. Mariner has already reached an agreement with PGE staff in line with which the employees will be granted with a 5-year employment guarantee as well as privatization bonus and yearly bonus. The offers of Mariner and another bidding entity – a consortium of PKP Cargo and Węglokoks – are valid by the end of June. Mariner operates such terminals as Baltic Container Terminal (BCT) in Latvia, Terminal Intermodale Venezia (TIV) in Italy and Durres Container Terminal (DCT) in Albania.