Athens, December 16, 2015/Independent Balkan News Agency
By Olga Mavrou
Next Monday, on December 21 the investors who are interested in acquiring the majority stake of Piraeus Port Authority SA (Greek acronyms, OLP) will submit their binding offers in HRADF (Hellenic Republic Asset Development Fund or TAIPED).
The President of the Fund Stergios Pitsiorlas said that December 21st is the deadline for submitting binding bids from interested companies.
According to ANA-MPA sources the approved bid will be announced in mid-January. The whole procedure should be completed by March. The companies interested in the acquisition of initially 51% of the shares and an additional 16% is COSCO (Chinese), APM Terminals (Danish) and ICTS (Philippine) Executives consider that the Chinese will probably get the majority stake since they already manage via the Container Terminal of Piraeus (subsidiary company) piers II and III. Chinese hold the greater share of the world market in container transport and with the overall management of the Piraeus harbor they aspire to create a new gateway for Asian trade.