Turkey's Doğuş buys stake in Athens yacht marina

ISTANBUL

Turkey’s Doğuş partners with Greece’s Lamda to operate the mega yacht facility in Athens, a popular destination among many Mediterranean travelers.

Turkey’s Doğuş Holding, a local conglomerate active in several businesses including media and banking, has moved into Greek maritime business, acquiring a 50 percent stake in Flisvos Marina, one of the largest in Athens.

Lamda Development of Greece’s Latsis Group, owner of the marina for mega yachts, and Doğuş’s D-Marine are set to found a new company to run the business, Greek media reported over the weekend.

Doğuş will contribute to the new company with a capital raise, the media said, but no exact figure was mentioned about the trade. Doğuş Chief Executive Hüsnü Akhan and Lamda Chief Executive Odysseas Athanasiou said the new business would contribute to mutual business and trade ties between the two countries.

Doğuş is expanding its business field with new investments, which have recently focused on dining also.

The Greek investment is D-Marine’s second business abroad after Mandalina Marina, the Croatian facility by the Dalmatian coast.

The company also runs marinas on Turkey’s Aegean coast.

Currently Lamda owns the rights for the facility, which has a capacity of 300 large yachts.