Hellenic Public Properties S.A., a subsidiary of the GrowthFund, has successfully concluded a significant business agreement involving the sale of its 25% share in Marina Zeas S.A. to the majority shareholder, D Marinas Hellas Sole Proprietorship S.A. As part of the agreement, the annual fixed concession fee, paid by Marina Zeas S.A. to HPPC, will increase by 40%. The process and fairness of the deal was assisted by the leading business advisory firm, Deloitte Business Solutions S.A., and by the distinguished law firm, Karatzas & Partners.
This transaction aligns with HPPC’s strategic objectives for the optimal development and management of its real estate portfolio, and ensures a substantial revenue boost through the monetization of a minority stake. Furthermore, the investment by D Marinas Hellas will contribute to the continued enhancement and modernization of Marina Zeas, a premier marina in Attica.
Following the signing of the agreement, Ms. Iro Hadjigeorgiou, HPPC’s CEO, commented:
“This agreement perfectly aligns with our strategic vision to optimize the value of HPPC’s real estate assets, driving long-term, sustainable profitability. It marks a pivotal milestone, creating substantial benefits for all stakeholders and significantly enhances the value of our portfolio.”
From his part, Mr Ioannis Koutsodontis, D Marin’s Regional Director in Greece, commented:
“We are very happy to conclude this investment with HPPC S.A. This move shows our strong belief in Greece s marina market. We are looking forward to contributing to its future success and growth by continually innovating the sector”
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About Marina Zeas
Zea Marina, also known as Pasalimani, is one of Greece’s most renowned marinas, located in Piraeus. It serves as a vibrant hub for luxury yachts and sailing vessels, attracting both tourists and nautical enthusiasts. The marina covers a sea area of 225 acres in the Freatida and Pasalimani districts, with a maximum depth of 8 meters and a capacity of 670 berths on both fixed and floating piers.
The land area of Marina Zeas spans 40 acres and includes essential amenities such as dedicated parking for boat owners and visitors, restaurants, cafes, a fuel station, and a variety of commercial establishments.
