Turkey’s Global Ports Holding (GPH) has appointed Lord Mandelson, an ex-EU commissioner and UK minister, to its board of directors.
The appointment could be seen as a preparatory step ahead of the company’s expected listing on the London Stock Exchange, the Financial Times (FT) reported.
Mandelson served in Tony Blair’s UK cabinet and was also EU’s trade commissioner from 2004 to 2008.
Istanbul-based GPH, which operates cruise terminals in Turkey and eight other countries, is seeking a London initial public offering (IPO) that would value the company at around £700m.
The European Bank for Reconstruction and Development (EBRD) bought a minority holding in the Turkish company two years ago, designed to boost the company’s IPO ambitions.
One person with knowledge of the matter told the FT that EBRD had recommended Lord Mandelson as a director.
Along with the ex-UK minister, GPH has also appointed Thierry Deau, founder of Meridiam, to its board.
