Final bid for the port of Piraeus

Final bid for the port of Piraeus

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.