The European Bank for Reconstruction and Development Bank (EBRD) announced Tuesday it had invested €70 million to acquire a stake of nearly 25 percent in a Turkish-owned marina company.
"The EBRD has signed investment agreements to become a shareholder in D Marinas B.V., the holding company for a network of currently 10 marinas in Croatia, Greece, and Turkey, operating under the brand name D-Marin," the bank said in a statement.
The funds will be used to finance the company’s growth plans, including the development of marina management operations, further acquisitions, and deleveraging, it said.
D Marinas B.V., whose ultimate beneficial owner is Turkish conglomerate Dogus Holding, is the largest and only international chain of marinas in the Eastern Mediterranean, boasting some 8,000 berths, the bank said.
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Merger & Acquisition legal support Turkey