HRADF receives three bids for Thessaloniki port

The Hellenic Republic Asset Development Fund said last week the launch of the tender evaluation process would begin immediately.    The Hellenic Republic Asset Development Fund (HRADF), which handles Greek government asset sales, said it received three binding bids for a 67 percent stake in the Thessaloniki Port Authority.

   The bids were submitted by:
     • Philippines-based International Container Terminal Services, Inc.;
     • DP World’s UK Unit, Peninsular and Oriental Steam;
     • And a consortium comprising German private equity firm Deutsche Invest Equity Partners, Cyprus-based Belterra Investments and Terminal Link, the port arm of French ocean carrier CMA CGM.

   The HRADF said last week the launch of the tender evaluation process would begin immediately.
   In August 2016, China COSCO Shipping purchased a majority stake in the Port of Piraeus, Greece’s largest port, for 280.5 million euros (U.S. $304.8 million). Under the terms of the deal, China COSCO Shipping would buy an additional 16 percent share for 88 million euros within five years and invest 350 million euros in the port over the next 10 years.
   Greece had agreed to the privatization of both ports as part of a bailout deal with the European Union and the International Monetary Fund.