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.