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Utilico Emerging Markets Limited News

27 Aug 2014

Piraeus Port Posts Flat Profit, Sales Dip

Photo: Piraeus Port Authority

Greece's Piraeus Port (OLP) , the largest in the country, said its first-half net profit was almost unchanged from the same year-ago period, while sales fell. Piraeus Port, which is privatisation, is one of the busiest passenger ports in Europe, a popular destination for cruise ships and one of the top cargo ports in the Mediterranean. The state-owned company reported a net profit of 3.3 million euros (4.3 million US dollar) in the first six months of 2014. Sales dropped by 3.3 percent to 50.2 million euros, the company said in a statement on Wednesday.

05 Jun 2014

Greece Shortlists Cosco, Four Others for Piraeus Port

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 on Thursday. Greece is aiming for privatisation revenues of 1.5 billion euros 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. The other potential OLP investors shortlisted were: U.S. terminal operator Ports America; Dutch container terminal operator APM Terminals; Philippines-based International Container Terminal Services ; and close-ended investment company Utilico Emerging Markets Limited.

28 Apr 2014

China's Cosco, Five Others Interested in Piraeus Port

Photo courtesy of Piraeus Port Authority

China's Cosco Group and five other investors have expressed interest in a majority stake in Piraeus port (OLP), the largest in the country, Greece's privatisation agency HRADF said on Monday. Cosco Group's initial interest for a 67 percent stake in OLP, is further highlighting Chinese investors' appetite for Greek assets as the state sells off parts of its businesses to go some way to balance the bailed out country's books. Greece last month picked a Chinese-backed bid to develop a prime seaside property at the former Athens airport Hellenikon.