Greece to open offers for Piraeus Port on Tuesday

11 January 2016
702 Views

Greek authorities on Tuesday will open financial offers submitted in a tender to buy 67 pct of Piraeus Port Organization, a process characterized as the country’s biggest challenge so far in its drive to put Greece again in the map of international investment funds.

Despite the fact that Hellenic Republic Asset Development Fund has not published the number of binding offers submitted with Morgan Stanley in London, Merchant Shipping ministry sources told ANA-MPA that the only bid submitted to the Fund was by Chinese COSCO, while the other candidate, Danish Maersk, was seemed to be interest more in the Thessaloniki Port, with binding offers expected to be submitted in three months.

Hellenic Republic Asset Development Fund is expected to ask for an improved offer if COSCO was the only candidate for Piraeus Port, depending on the offer submitted by the Chinese company. Port authority officials told ANA-MPA that the market value of Piraeus Port Organization was currently around 250 million euros and noted that regardless of the price offered to buy a 67 pct of the port, the candidate investor would also undertake a large investment risk. Under the terms of the tender, any possible buyer of Piraeus Port was committed to make investments worth 340 million euros in the port, mainly to boost sea cruise services, new tanks for ship repair and new infrastructure in the ship-building zone.

You may be interested

Crete is the most popular holiday destination for Brits
GREECE
shares10 views
GREECE
shares10 views

Crete is the most popular holiday destination for Brits

Panos - Jan 21, 2021

Crete is the most popular holiday destination for this year’s tourist season for the Brits, according to online searches made in…

Fastest Brand Growth in 2020 (infographic)
WORLD
shares10 views
WORLD
shares10 views

Fastest Brand Growth in 2020 (infographic)

Panos - Jan 21, 2021

2020 has been a pivotal year for various brands in the U.S. A new report of the fastest-growing brands shows…

Putin dips into freezing waters for Epiphany feast
WORLD
shares22 views
WORLD
shares22 views

Putin dips into freezing waters for Epiphany feast

Panos - Jan 21, 2021

The Russian Orthodox Church celebrated the Epiphany on the night of January 18-19. Taking off his warm coat and under polar…

Leave a Comment

Your email address will not be published.