Final Bids for Piraeus Port Privatization Submitted

The procedure for the submission of binding offers for the privatization of the Piraeus Port Authority SA was completed on Monday, the Hellenic Republic Asset Development Fund informed.

“Further announcements will be made on January 12, 2016 after the opening of the financial offers,” HRADF said, without disclosing identity of the potential buyers.

The tender process for the sale of 67% of the shares of the Piraeus Port Authority was launched in March 2014, but the stake has since been downsized to 51 percent.

China’s Cosco Group, Maersk Group’s APM Terminals, and Philippines-based International Container Terminal Services (ICTSI) have expressed interest in bidding for majority stake in the Piraeus port.

The announcement comes after several delays in the privatization bidding process following the Greek elections and the country’s bailout talks with the EU.

Greece recently signed a memorandum of understanding (MOU) with its international lenders which stipulated setting of binding bid dates for the privatization of ports of Piraeus and Thessaloniki, which are to be sold under the same terms.

The proceeds from the sales and privatization of national assets are expected to reach EUR 6.4 billion by 2017, Reuters reports. The MOU is a prerequisite for Greece if it wants to gain access to around EUR 85 billion offered through a new bailout program.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>


<< Jul 2019 >>
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >