Ocibar acquires Port Tarraco Super Yacht Marina

Ocibar acquires Port Tarraco Super Yacht Marina

Date: 16 April 2020 Category: Superyacht & Marinas News

OCIBAR, the Spanish marina management company, has significantly expanded its operation with the acquisition for an undisclosed sum of the Port Tarraco superyacht marina in Tarragona. The purchase was made from the Qatari Diar Fund, which is linked to Qatar sovereign wealth fund.The deal was approved by the board of directors of the Tarragona Port Authority through the sale of the 100% shareholding of the QD Marina Tarragona concessionary company to OCIBAR SA.

Port Tarraco offers 33 berths from 45m-160m (148ft-525ft). This includes 10 berths for superyachts over 100m (328ft).OCIBAR has been operating for more than 30 years in terms of constructing and managing significant marina assets. In addition to Port Tarraco, the group also operates Port Adriano in Majorca which has 488 berths up to 80m (262ft); Ibiza Magna marina which has 85 berths up to 60m (197ft) and Marina Botafoc, also in Ibiza, which offers 430 berths up to 30m (98.5ft). OCIBAR took over the concession for Marina Botafoc in August last year.Antonio Zaforteza, CEO of OCIBAR, said: The incorporation of Port Tarraco allows us to expand the offer of OCIBAR with greater lengths and offer Port Tarraco customers our port infrastructure in the Balearic Islands. The main lines of action will be: to bring the local economy closer to the business opportunities offered by large vessels, strengthen the office area in Port Tarraco, and contribute to integration of the port with the city of Tarragona.Port Tarraco was acquired by the Qatari Diar Fund in 2011 for EUR65m. The marina finished 2019 with its highest occupancy and OCIBAR plans to retain the same management approach as the previous operator.


Source IBInews:

https://www.ibinews.com/mergers-acquisitions-and-exits/ocibar-acquires-spanish-superyacht-marina/35651.article.