Greek Government to Halt Piraeus Port Sale

Maritime Activity Reports, Inc.

January 27, 2015

The new Greek government led by the left-wing Syriza party will halt the sale of a majority stake in the port of Piraeus, Greece's biggest, begun by the previous government, the deputy minister in charge of shipping said on Tuesday.

"We will not sell a majority stake in Piraeus port," Thodoris Dritsas told Reuters. "The Cosco deal will be reviewed to the benefit of the Greek people."

Greece had shortlisted China's Cosco Group and four other suitors as potential buyers of a 67 percent stake in Piraeus Port Authority OLP last year under its privatisation scheme agreed with its international lenders.

Cosco manages two of the port's cargo piers.

Binding bids for the stake were expected by the end of the month.

Reporting by Lefteris Papadimas

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