EBRD Completes Exit from Moldova’s Giurgiulesti International Free Port
The European Bank for Reconstruction and Development (EBRD) is set to complete the sale of Danube Logistics, the operator of Moldova’s Giurgiulesti International Free Port (GIFP), to Romania’s state-owned Port of Constanta, marking a significant development in Black Sea and Danube regional trade. The transaction, expected to close imminently, follows the signing of a Share Purchase Agreement (SPA) on 31 December 2025 for the sale of 100 per cent of EBRD’s shares in ICS Danube Logistics to Romania’s National Company Maritime Ports Administration SA Constanta. Approval of the SPA was announced by the Port of Constanța on 12 February 2026, confirming that the Romanian port authority will become the sole owner of Danube Logistics.
The agreement concludes an extensive global mergers and acquisitions tender process conducted by the EBRD to identify a long-term strategic investor committed to expanding the port’s infrastructure and strengthening Moldova’s integration into regional and global trade networks. The process attracted strong international interest, underlining the strategic importance of Giurgiulesti International Free Port as a key logistics hub on the Danube River and within the Black Sea region.
Under the terms of the transaction, the Port of Constanta has committed to significant long-term investment in GIFP, aiming to expand port capacity, enhance infrastructure, and reinforce its competitive position in the Danube basin and Black Sea maritime corridor. Planned developments include sustainable modernisation of port facilities, expansion of berths and land areas, broader service offerings for port operators, and deeper integration with Constanta’s established Black Sea trade network. These investments are expected to strengthen Moldova’s logistical resilience, increase throughput efficiency, and support regional supply chain stability.
The sale highlights the deepening strategic partnership between Romania and the Republic of Moldova, with both governments supporting and welcoming the transaction. As Moldova’s primary maritime gateway, Giurgiulesti International Free Port handles more than 70 per cent of the country’s waterborne imports and exports, making it critical to national economic stability and trade connectivity. The port’s regional importance has grown significantly and it is positioned to play a role in the future reconstruction of Ukraine, further enhancing its strategic value within European transport corridors.
Since acquiring Danube Logistics in 2021, the EBRD has overseen consistent operational growth at GIFP, including increased cargo throughput volumes, higher revenues, and improved profitability. Under EBRD stewardship, the port strengthened its capital structure and diversified its cargo handling and storage capabilities, positioning it as a resilient and commercially viable logistics asset. The sale to the Port of Constanta fulfils the EBRD’s objective of transferring ownership to a long-term strategic investor capable of advancing GIFP’s role in European and global trade.
Giuseppe Grimaldi, EBRD Head of Moldova, stated that the Bank worked closely with the governments of Moldova and Romania throughout the transaction and appreciated their constructive cooperation in achieving the landmark deal. He described the agreement as a milestone for Moldova’s economic development and regional integration, highlighting growing investor confidence in Moldova’s potential as a logistics and transport hub. Grimaldi reaffirmed the EBRD’s continued commitment to supporting infrastructure projects that enhance connectivity, competitiveness, and sustainable economic growth.
Mathias von Tucher, CEO of Danube Logistics, said the transaction signals a new chapter in the development of Giurgiulesti International Free Port. He emphasized that the port has evolved into a vital gateway for trade, investment, and economic growth for Moldova and the wider region, expressing gratitude for the EBRD’s support during its transformation. Under the ownership of the Port of Constanta, he noted that the focus will be on expanding capacity, ensuring seamless operations, and building strong synergies within the broader regional transport and logistics network.
With the Port of Constanta assuming full ownership, Giurgiulesti International Free Port is set to strengthen its position as a key Danube-Black Sea logistics hub, reinforcing trade flows across Eastern Europe and supporting Moldova’s long-term economic integration into European transport corridors.
