China’s Cosco is sole bidder for stake in Piraeus Port

The Chinese shipping and port group Cosco is the only bidder in the tender for the acquisition of a 67 pct stake in Piraeus Port (OLP), Greece’s privatization agency revealed on Tuesday, after it unsealed the financial offers.

According to the Hellenic Republic Asset Development Fund (HRADF), its board of directors unsealed during a meeting Cosco’s binding financial offer and will now request a better offer, which will be examined next week.

“According to the terms of the process, the Fund requested the submission of an improved financial offer to be assessed at a subsequent meeting of the Board scheduled to be held in the coming week,” the Fund said in a press release.

“Our aim is to achieve a higher offer; the negotiating process is continuing,” senior HRADF officials said after the meeting.