The Moldovan court confirmed that the EBRD is the legal indirect owner of the shares of Danube Logistics, the operator of the Giurgiulesti port.
As noted in the message of the European Bank for Reconstruction and Development, the Moldovan court made such a decision on Tuesday, rejecting the complaint of the Bemol company associated with one of the previous owners of the port. The decision is final and irrevocable, and has already been welcomed by the EBRD, and EBRD Vice President Alain Pilloux, during his visit to the Giurgiulesti port, noted that, in cooperation with the government, the bank seeks to attract strong investors for the further development of this port. Alain Pilloux made a trip to the port at the end of his 3-day visit to Moldova, which he made to meet with the government and other partners. He welcomed the professional management of the port by Danube Logistics and emphasized the importance of Moldova's only international port for the country's trade and economy, especially in the context of the war in Ukraine. He said that the EBRD has been supporting the construction and operation of the Giurgiulesti port since 1995. “We are actively working to continue the successful operation and development of this key infrastructure and welcome an increase in its capacity in 2022, including exports to and from Ukraine, during a period of unrest on regional food and energy security,” the EBRD Vice President said. “Giurgiulesti International Free Port exports grain and vegetable oil, and imports fuel, building materials and general cargo. The total annual volumes passing through the port more than doubled in 2022, reaching 804,029 tons. This is mainly due to an increase in imports of petroleum products, coal and fertilizers, as well as exports of grains and vegetable oil. Existing grain transshipment and storage facilities are increasingly used for grain from Ukraine, which exports about 15% of the world's grain in peacetime,” said Mathias von Tucher, CEO of Danube Logistics. According to him, since 2005, 100 million euros have been invested in the Giurgiulesti port. On May 7, 2021, the EBRD acquired 100% ultimate ownership of Danube Logistics. During Alain Alain Pilloux's visit, the EBRD welcomed Tuesday's decision by a Moldovan court confirming that the EBRD is the rightful indirect owner of Danube Logistics shares, dismissing Bemol's claim. The decision is final and irrevocable. Alain Pilloux's visit follows the approval in June of a €300 million EBRD loan to support Moldova's energy security. On Monday and Tuesday in Chisinau, Alain Pilloux met with President of Moldova Maia Sandu, Prime Minister Natalia Gavrilita, Speaker of Parliament Igor Grosu, Minister of Economy and Governor of the EBRD Sergiu Gaibu, President of the National Bank of Moldova Octavian Armasu, development partners and business clients. The EBRD is the leading institutional investor in Moldova and has invested more than EUR 1.7 billion in our country to date through 158 projects.// 13.07.2022 — InfoMarket
