Greece to Sell Majority Stakes in Four Ports

March 31, 2020

© giannis / Adobe Stock
© giannis / Adobe Stock

Greece plans to sell majority stakes in four ports as part of a privatization plan agreed with its lenders after the country exited the bailouts in 2018, a document of its privatization agency (HRADF) showed on Tuesday.

HRADF will sell majority stakes in the share capital of Alexandroupolis, Igoumenitsa, Heraklion and Volos ports, the agency said in an invitation to hire financial advisers for the sales released on this website.

China's COSCO has bought a 51% stake in Piraeus Port, the country's biggest, in 2016. A German-led consortium also acquired a 67% share in Thessaloniki Port in 2018.

Greece aims to raise 2.4 billion euros from state asset sales this year, including the further privatization of its biggest gas utility DEPA and the sale of a minority stake in Athens International Airport.

The ongoing coronavirus crisis has not affected its privatization program so far, Greek officials close to the matter have told Reuters.

Greece reported 102 new coronavirus cases on Tuesday, bringing the total number of reported infections to 1,314 so far. In total, 49 people have died.


(Reporting by Angeliki Koutantou; Editing by Lisa Shumaker)

Logistics News

Puerto Rico Inks LNG Contract with New Fortress Energy

Puerto Rico Inks LNG Contract with New Fortress Energy

Panama Canal Unveils Decade Roadmap of Transformation

Panama Canal Unveils Decade Roadmap of Transformation

Nissen Kaiun Becomes Stakeholder in Econowind

Nissen Kaiun Becomes Stakeholder in Econowind

China's Hold on Global Ports focus of Trump Administration

China's Hold on Global Ports focus of Trump Administration

Subscribe for Maritime Logistics Professional E‑News

Oil prices increase as the market considers Russia's supply risk and US rate decision
Maguire: UK gas traders must be aware of the weather this winter.
Allegro, an e-commerce company, teams up with DPD to launch a delivery program