PG Group, the company owning and operating the PAVI and PAMA shopping malls and representing ZARA in Malta, has confirmed that it is not involved in its majority shareholder’s purchase of the Marina di Regusa’s Porto Turistico or with the catamaran expected to be launched this year.
Speaking to WhosWho.mt, Kevin Azzopardi, Head of Marketing with the retail giant, stated unequivocally that Ragusa Xpress – the name of the new ferry service between Malta and Ragusa – is not part of PG Group.
Paul Gauci is the majority shareholder in both the publicly listed PG plc, which operates the supermarkets and other retail and franchise offerings, and the privately held PG Holdings. The latter includes stakes in the Westin Dragonara Resort, BNF Bank, and also includes Ragusa Xpress Ltd as a subsidiary.
The companies forming part of PG plc were once largely part of PG Holdings, a holding company Mr Gauci set up in 2011, but were transferred prior to going public in 2017.
Earlier this month, it was revealed that Mr Gauci had finalised a deal to take over the 750-berth marina, which is protected by an 800-metre inner breakwater.
The acquisition was secured for an undisclosed sum.
Previously, a ferry vessel sporting the Ragusa Xpress brand was spotted in a local shipyard, fuelling speculation about the new service.
Mr Azzopardi was in a position to confirm that the ferry service “shall commence towards summer”.
It remains unclear whether insurance companies would benefit from additional certainty or balk at increased payouts
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