The National Maritime Ports Administration Company of Constanta (APM) intends to cover the costs of taking over the operator of the Giurgiulesti International Free Port — ICS Danube Logistics — by attracting 281.6 million lei from shareholders, according to sources from Romania’s Ministry of Transport cited by Profit.ro.
The operation, expected to be discussed at the end of March, provides for the issuance of new shares and an increase of the company’s share capital from 323.3 million lei to 604.94 million lei.
The APM is controlled by the Ministry of Transport of Romania (80 percent) and Fondul Proprietatea (20 percent).
According to previously presented data, APM submitted a binding offer of approximately 62 million US dollars for the acquisition of ICS Danube Logistics, whose sole shareholder is the European Bank for Reconstruction and Development (EBRD).
In addition to the purchase price, the Romanian company committed through its offer to invest at least 28 million US dollars in the development of the Giurgiulesti Port.
At an exchange rate of 4.32 lei per dollar, the total planned capital injection into APM would reach around 65.2 million US dollars, if shareholders fully subscribe to the new shares.
However, the acquisition process is not without controversy. In mid-last year, Fondul Proprietatea challenged in court the decision adopted by APM shareholders on June 19, 2025, approving the full acquisition of Giurgiulesti Port.
The case is currently pending before the court, with the next hearing scheduled for mid-April.
The Constanta Maritime Ports Administration operates under the authority of the Ministry of Transport and manages the Port of Constanta (Constanta, Midia, and Mangalia areas), as well as the Tomis tourist port.
In 2024, the company reported a turnover of 479.38 million lei (down 13 percent compared to 2023) and a net profit of 256.31 million lei, up 31 percent.
The takeover of Giurgiulesti Port is considered a strategic move with major implications for regional logistics along the Danube and the Black Sea.