Progress on postponed Piraeus port privatisation?

Progress on postponed Piraeus port privatisation?

Athens: Greece is working on a new deal with its creditors that could possibly reboot its postponed privatisation of Piraeus Port Authority, which could raise at least €500m ($545m).

The terms and conditions of the tender for the sale of a 67% stake in Piraeus Port Authority are to be amended slightly, an official from Greek sell-off fund TAIPED told local press.

All the short-listed investors will be notified of the change, the official said.

Four of the world’s biggest operators of container terminal networks are said to be shortlisted for the buy-out, being China’s China Cosco Holdings; APM Terminals, part of Denmark’s A.P. Møller-Mærsk Group; Ports America Inc, the biggest operator of US ports; and the Philippines’ International Container Terminal Services Inc.

Cosco is said to be the front-runner for the deal, and already operates the port’s Piraeus Container Terminal (PCT).

The sell-off of the stake in Piraeus Port Authority was postponed in January.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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