EBRD to exit Giurgiulesti International Free Port (GIFP)

• EBRD agrees to sell Danube Logistics, operator of Moldova’s GIFP, after global M&A tender process
• Romania’s Port of Constanta will become the sole owner of Danube Logistics
• Moldovan and Romanian governments support and welcome the transaction

The European Bank for Reconstruction and Development (EBRD) is set to complete the sale of Danube Logistics, the operator of the Giurgiulesti International Free Port (GIFP), to the Romanian state-owned Port of Constanta. The transaction is expected to close imminently.  The Bank signed the Share Purchase Agreement (SPA) on 31 December 2025 for the sale of 100 per cent of its shares in ICS Danube Logistics, the operator of GIFP, to Romania’s National Company Maritime Ports Administration SA Constanta (Port of Constanta). The approval of the SPA was announced by Port of Constanța on 12 February 2026. 

This agreement is the result of an extensive global mergers and acquisitions tender process run by the EBRD to identify a long-term strategic investor committed to developing the port and strengthening the integration of the Republic of Moldova into regional and global trade networks. The process drew strong international interest, highlighting the port’s strategic value on the Danube and its growing role in regional logistics corridors. 

The Port of Constanta commits to significant long-term investment in the further development of the port. The strategic objective is to expand its capacity, enhance its infrastructure, and reinforce its position in the Black Sea region and the Danube basin. These investments are expected to increase the port’s competitiveness, strengthen Moldova’s logistical resilience, and bolster trade links throughout the region. 

The transaction underlines the strategic partnership between Romania and the Republic of Moldova, supporting deeper economic and trade ties. As Moldova’s main maritime gateway, GIFP handles more than 70 per cent of the country’s waterborne imports and exports, playing a critical role in maintaining supply chains and supporting economic stability. The strategic role of GIFP has increased in the region and the port is well positioned to serve for the future reconstruction of Ukraine.  

The Port of Constanta brings to Moldova not only capital, but also decades of operational expertise and a strong record of managing major maritime infrastructure. Its strategic plan for GIFP includes sustainable modernisation of port infrastructure; expansion of capacity, including new berths and land development; broader service offerings for operators; and synergies and integration with Constanta’s Black Sea trade network. These enhancements aim to transform GIFP into a more competitive and resilient port, fully embedded into European transport corridors. 

Since acquiring Danube Logistics in 2021, the EBRD has been the sole owner of the port. Under the EBRD’s stewardship, the port has achieved consistent growth, significantly higher throughput volumes, revenues and profitability. As a result, Danube Logistics now benefits from a robust capital structure and diverse cargo handling and storage capabilities.  The agreement reached with Port of Constanta fulfils the EBRD’s stated aim of ultimately exiting GIFP to a long-term strategic investor to strengthen GIFP’s role in European trade. 

Giuseppe Grimaldi, EBRD Head of Moldova, said: “The EBRD worked closely with the Governments of Moldova and Romania throughout the transaction and appreciates their constructive cooperation, which was instrumental to the successful completion of this landmark transaction in the region. It has also been a pleasure to collaborate with the management of Danube Logistics over the past decade in the development of this strategic port. This transaction marks a milestone for Moldova’s economic development and integration into regional and global trade networks. It also demonstrates the growing investor confidence in Moldova’s potential and its strategic importance as a logistics and transport hub for the wider region. As a longterm partner of Moldova, the EBRD welcomes this development and remains committed to supporting infrastructure projects that enhance connectivity, competitiveness, and sustainable economic growth.” 

Mathias von Tucher, CEO of Danube Logistics, said: “This transaction marks the beginning of an exciting new chapter in the port’s development. As the operator of Moldova’s main sea-river port, Danube Logistics has worked hard to position Giurgiulești International Free Port as a vital gateway for trade, investment, and economic growth — not just for Moldova, but for the entire region. We are deeply grateful for the EBRD’s support during these transformative years. Under the new ownership of the Port of Constanta, we look forward to further expanding the port’s capacity and capabilities, ensuring seamless operations, and building strong synergies within the broader regional transport network.”