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Greece shortlists Cosco, four others for Piraeus port


source:cargonewsasia author: time:2014-06-09  

China's Cosco Group and four other suitors have been shortlisted as potential buyers of a majority stake in Piraeus Port Authority (OLP), Greek privatisation agency HRADF said.

Greece is aiming for privatisation revenues of US$2 billion this year by selling a stake in OLP and in Thessaloniki Port Authority (OLTH), as well as by privatising railway operator TRAINOSE, rolling stock company ROSCO and some regional airports, among other assets, reported Reuters.

The other potential OLP investors shortlisted were US terminal operator Ports America; Dutch container terminal operator APM Terminals; Philippines-based International Container Terminal Services ; and close-ended investment company Utilico Emerging Markets.

Despite a six-year austerity-induced recession, OLP's profits rose 12 percent last year and the port is seen benefiting from a robust tourist season this year when Greece expects a record 19 million tourists.

Binding offers for OLP are expected by the end of the year.

The agency also said that it received non-binding bids from Russian Railways (RZD) and another seven suitors for a majority stake in Thessaloniki Port Authority OLTH.

Russian Railways is bidding in a joint venture with Greek construction group GEK Terna.

The other potential investors are APM Terminals; International Container Terminal Services; Deutsche Invest Equity Partners; Switzerland's Duferco Participation Holding; Japan's Mitsui & Co; British shipping company P&O Steam Navigation Co and Turkey's Yilport Holding.

 


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