Piraeus port share transfer to Cosco completed
A majority stake of the Piraeus Port Authority’s shares (OLP) was transferred, as expected, to Chinese multinational Cosco on Wednesday, on the sidelines of a special event held at the Athens Stock Exchange and in the presence of the Greek semi-autonomous privatization fund’s top management.
Following the development, state-run and Shanghai-based Cosco Shipping Corp. assumes 51 percent of the port authority, which runs the biggest and busiest port in Greece.
The transfer was achieved via a 12.75-million-euro tranche, which translates into 22 euros per share.
Another 16 percent of OLP’s shares will be transferred to Cosco when a massive round of investments promised by the Chinese shipping giant are implemented.
The total benefit for the Greek state reaches 368.8 million euros.
You may be interested
The first Aegean Hawk S-70 helicopter was delivered to the Hellenic Navy by AeroservicesPanos - May 07, 2021
The first upgraded Aegean Hawk S-70 helicopter was delivered to the Hellenic Navy today, Thursday 6 May. The work on…
Foreigners looking to buy Greek property amid Covid-19 pandemicPanos - May 07, 2021
Despite the pandemic, the demand for a permanent holiday home in selected destinations in Greece by foreigners is on the…
Greek Taxisnet services not available for citizens over weekendPanos - May 07, 2021
Online services on the Taxisnet platform system will not be available to taxpayers over the weekend due to scheduled upgrading.…