As the sale and purchase of Puerto Punto Portals S.A. which is currently controlled by the Graf family is subject of a court case as to a fair price, a study (on behalf of the Grafs) by the prestigious engineers, “Sener” has set a price of 115 million Euros.
This contradicts a similar study presented by the well known accountancy firm KPMG to the would-be purchaser, a Madrid property millionaire, Fransisco Hernando.
Far from the agreed price of 110 million, Hernando has claimed that he has been “cheated” as the years left on the concession were inflated and less moorings are under the direct control of the company than he was originally informed of.
He then lodged 33 million with the court in Palma and is claiming that the port is only worth 9 million. The Sener report claims that their calculation is based on the concession expiring in 2018 as it may do, due to the 1988 Ley de Costas that was introduced after the 50 year concession started.
Should the concession run it’s original full length to 2031 it would be valued at 167 million and if a planned enlargement of the marina be given the green light the figure could reach 282 million.