Manoel Island has officially been handed over to the government after a deal involving a €43 million bail-out for the shareholders of the company. The bailout enabled the company to pay an outstanding €47 million bond payment. MIDI itself admitted in communications to shareholders that failure to reach an agreement with government could have pushed the company toward insolvency.
The agreement follows parliamentary approval and approval by MIDI shareholders during an extraordinary general meeting held on 28 April 2026.
Manoel Island has been brought back to public ownership following a national campaign which gathered more than 100,000 signatures.
Despite promises by the Prime Minister that Manoel Island will be turned into a national park, his friends and associates are already carving out their territorial share of the island.
You can view the government’s footage of the signing ceremony with its propaganda show here.
Newsroom
Leave a Reply