Terms of Thessaloniki Port privatisation changed

Terms of Thessaloniki Port privatisation changed

The terms of the tender by which the Greek government will sell off a stake in Thessaloniki Port Authority have been changed to match those for the Piraeus Port Authority tender.

State sell-off fund TAIPED will initially sell a 51% stake in Thessaloniki Port Authority, plus a further 16% to the preferred bidder within five years.

Bids from private investors are expected to be submitted by February 2016. TAIPED aims to have sold the majority stake in Thessaloniki by June next year.

Similarly, TAIPED is to sell a 51% stake in Piraeus Port Authority, with the option to own 67% in five years if the bidder invests 300m Euros.

It is hoped that the successful investor will be named in September or October. China’s Cosco is reportedly in “very advanced” discussions to buy the stake.

Meanwhile, Greece’s ruling party Syriza on Sunday released a proposal for new privatisation programme, which refers to just nine sell-off projects, instead of 23 mooted previously, in the period up to the end of 2017.

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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