IOBE: Thessaloniki port authority privatization to benefit economy by up to 1.6 bln€ over 10 years

23 June 2017
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The Athens-based Foundation for Economic & Industrial Research (IOBE) has calculated additional benefits for the Greek economy of up to 1.6 billion euros over a 10-year period from the privatization of the Thessaloniki Port Authority (THPA).

A consortium comprised of Deutsche Invest Equity Partners GmbH, Belterra Investments Ltd. and Terminal Link SAS has been declared the highest bidder in an international competitive process to sell off a 67-percent stake in the port authority, the largest in northern Greece.

In the IOBE report, authored by Svetoslav Danchev, Alexandros Moustakas and Elias Demian,
the additional benefits for the economy are estimated at 1.2 to 1.6 billion euros until 2026 — 289 million euros to 383 million euros for remuneration of the workforce and 470 million to 605 million euros in additional revenue for the state.

Greece’s privatization fund (HRADF) this week declared the international consortium as the preferred investor in the tender. The consortium had previously submitted an improved bid for 67 percent of the port authority’s shares, totaling just more than 231 million euros. The total value of the agreement reaches 1.1 billion euros.

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