Hradf News

Greece has secured 24 million euros ($26 million) in European Union funding to upgrade its northern Aegean Sea port of Alexandroupolis, privatization agency HRADF said on Wednesday.Alexandroupolis, which is close to Bulgaria and Turkey, has been used by U.S.

Greece received two binding bids for a majority stake in its northern port of Alexandroupolis, the country's privatizations agency HRADF said.The bidders for a 67% stake in the port were Quintana Infrastructure and Development through Liberty Port Holdings Single Member, and International Port Investments Alexandroupolis, a joint venture of Black Summit Financial Group, Euroports, EFA Group and GEK Terna, the agency said in a statement.The deadline for the bids expired earlier on Thursday.

Greece's privatizations agency transferred shares corresponding to a 16% stake in Piraeus Port Authority to Chinese port operator COSCO Shipping after an amendment to a previous concession agreement, it said on Thursday.Last month Greek lawmakers amended a deal with COSCO allowing it to raise its stake in Greece's biggest port of Piraeus, paving the way for Greece to secure a major investment.Under a 2016 privatization deal, COSCO Shipping bought a 51% stake in Piraeus Port Authority for 280 million euros ($328 million) and committed to mandatory investments worth about 294 million euros over

Greece has received five non-binding bids to operate part of a port in northern city of Kavala, the country's privatization agency (HRADF) said on Friday.HRADF received expressions of interest for a sub-concession to operate a multipurpose terminal of Philippos II port, currently operated by Kavala Port Authority.The initial bidders are a consortium of IMERYS SA, Goldair Cargo and I.M.G., and the International Port Investments Kavala consortium, which includes Black Summit Financial Group, EFA Group and GEK TERNA.

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.

The consortium consisting Italy’s Snam, Spain’s Enagás and Belgium’s Fluxys has completed the acquisition of a 66 percent stake in Greek natural gas operator DESFA.According to a joint release, the purchase valued at €535 million ($613.9 million) has been completed with the Hellenic Republic Asset Development Fund (HRADF) and Hellenic Petroleum.The consortium, which won the tender for the privatisation of DESFA in April 2018, has closed the purchase through the new company Senfluga Energy Infrastructure Holdings. The consortium has obtained financing without recourse for more than 10 years, corresponding to approximately 65% of the value of the company.DESFA owns and operates…

Greece concluded the sale of 67 percent stake in Thessaloniki port, the country's second-largest, to a German-led consortium, its privatisations agency (HRADF) said on Friday. Deutsche Invest and its partners, France's Terminal Link SAS and Cyprus-based Belterra Investments, signed the deal in December. The sale is part of a privatisation scheme Greece has agreed under its latest international bailout. The deal is worth 1.1 billion euros, HRADF said, and the consortium has already…

German private equity firm Deutsche Invest Equity Partners was the highest bidder for a majority stake in Greece's Thessaloniki Port with an offer of 231.9 million euros ($251.8 million), privatisation agency HRADF said on Monday. The sale is a key part of the country's international bailout signed in 2015 and comes less than a year after China's COSCO Shipping bought a 51 percent stake in Piraeus Port, Greece's biggest, for 280.5 million euros. The bid for Greece's second-largest port by Deutsche Invest Equity Partners…

Greece received three improved binding financial bids for a majority stake in Thessaloniki Port , its second-largest, the country's privatisation agency (HRADF) said on Friday. Last month HRADF got three bids for a 67 percent stake in Thessaloniki Port. The bids were submitted by Philippines-based International Container Terminal Services (ICTS), Dubai-based P&O Steam Navigation Company (DP World) and German private equity firm Deutsche Invest Equity Partners, jointly with France's Terminal Link SAS. After unsealing the financial offers this month, HRADF asked the suitors to improve them by April 21. The improved offers will be unsealed at a board meeting on April 24, HRADF said. The current market value of the stake on sale is 138.8 million euros.

Hellenic Republic Asset Development Fund (HRADF) asked for improved financial bids from short-listed investors seeking to buy a majority stake in its second-largest port, reports Reuters. Greece’s privatization agency (TAIPED) got three offers last month for the sale of a 67 percent stake in Thessaloniki Port, which is required as part of Greece’s international bailout. The investors are Philippines-based International Container Terminal Services (ICTS), Dubai-based P&O Steam Navigation Company (DP World) and German private equity firm Deutsche Invest Equity Partners, which is bidding jointly with France’s Terminal Link SAS. The preferred…

Greece's privatisation agency (HRADF) asked on Friday for improved financial bids from shortlisted investors seeking to buy a majority stake in its second-largest port. Athens got last month three offers for the sale of a 67 percent stake in Thessaloniki Port, which is required as part of its international bailout. The investors are Philippines-based International Container Terminal Services (ICTS), Dubai-based P&O Steam Navigation Company (DP World) and German private equity firm Deutsche Invest Equity Partners which is bidding jointly with France's Terminal Link SAS. (Reporting by Angeliki Koutantou)

China's COSCO Shipping , owner of the world's fourth largest container fleet, took a 51 percent stake in Greece's largest port on Wednesday. The sale of Piraeus Port had been suspended by the leftist-led government when it won elections in January 2015 but talks resumed after Greece agreed an 86 billion euro bailout deal with its euro zone partners. COSCO agreed to buy 51 percent of Piraeus Port (OLP) in April for 280.5 million euros ($312.51 million) under a deal signed with the HRADF, Greece's privatisation agency. COSCO bought 51 percent of Piraeus Port (OLP) for 280.5 million euros ($312.51 million), acquiring a block of 12.75 million shares in OLP. COSCO Shipping executive Wan Min rang the opening bell at the Athens bourse at a ceremony to mark the agreement.

China COSCO Shipping, which owns the world's fourth largest container fleet in terms of capacity, is expected to wrap up the purchase of a majority stake in Greece's largest port, Piraeus Port (OLP), next week, sources close to the matter said on Friday. Under a deal signed in April between COSCO and Greece's privatisation agency (HRADF), COSCO will buy 51 percent of Piraeus for 280.5 million euros ($312.5 million). COSCO will acquire a further 16 percent stake for 88 million after five years, and once it completes mandatory investments of 300 million euros. The transfer of the 51 percent stake to COSCO through the Athens Stock Exchange will likely take place on Wednesday, an official close to the process told Reuters.

COSCO Greece objected on Wednesday to terms submitted to parliament for the sale of Piraeus Port to China COSCO Shipping, saying they were inconsistent with those previously agreed with the Greek privatisation agency. Greece sealed the sale of Piraeus Port Authority to China COSCO Shipping Corporation in April, a major step for the bailed-out country in meeting the demands of international creditors that it step up privatisations. Under the 368.5 million euro (£298 million) deal…

The Competition Commission approved the sale of a majority stake in Piraeus Port (OLP) to China’s COSCO during its meeting on Wednesday, saying it is in line with Greek competition laws. According to Greek national news agency AMNA, the next and final step for the changing of hands at Piraeus port is for the concession agreement to be submitted to parliament for approval. “Having taken into account the conditions and prospects of the relevant market, the improvements in its efficiency and the commitments given, concluded that the concentration does not raise serious doubts as to the compatibility of the deal with the performance requirements of competition in the individual markets it concerns,” the Commission said in its decision.

The Greek privatization fund TAIPED formally accepted the binding bid submitted by Cosco Pacific for the majority stake in Piraeus Port Authority (OLP), while the port company’s stock posted a significant increase on the Athens bourse in response to the Council of State’s rejection of various objections to OLP’s privatization. The renewed and better offer by Cosco for the 67% of OLP has reached 368.5 million euros. TAIPED announced that the sell-off agreement will now be forwarded for approval to the State Audit Council, after which the contract for the sale of the 67 percent stake in OLP to the Hong Kong-listed company will be signed.

Greece named China's Cosco as the preferred investor for the acquisition of a 67-percent stake in the country's biggest port, Piraeus , its privatisation agency (HRADF) said on Wednesday. Greece last month named Cosco as the highest bidder for the stake and asked the company to submit the necessary documents to name it a winner. "During its session today, the board of directors of HRADF unanimously declared Cosco Hong Kong Group Limited as the preferred investor," HRADF said in a statement. The tender dossier will now be submitted to a Greek court of auditors, it said. An approval by the auditors and other authorities is necessary for the deal to be signed. Reporting by Angeliki Koutantou

China's COSCO is forging ahead with a plan to build a European transhipment hub, reports Reuters. The state owned shipping giant is expected to make an offer for Greece's rail network after becoming the sole bidder for the country's largest port. Buying TRAINOSE and Piraeus Port would give COSCO maritime connections to the Suez Canal and rail links to the Balkans and central and Eastern Europe. However, COSCO could face competition for the rail network, including from U.S. railroad holding company Watco. According to sources, apart from COSCO and Watco, a  Greek group  is interested are interested in TRAINOSE and is looking for a partner. Privatisation agency HRADF had invited suitors for TRAINOSE, the sole provider of rail services in Greece, to express interest from Feb.

China's COSCO already the sole bidder for Greece's Piraeus Port. Buying both would give COSCO a European transhipment hub. China's COSCO is expected to make an offer for Greece's rail network after becoming the sole bidder for the country's largest port, two people familiar with the matter said, as the state owned shipping giant forges ahead with a plan to build a European transhipment hub. Buying TRAINOSE and Piraeus Port would give COSCO maritime connections to the Suez Canal and rail links to the Balkans and central and Eastern Europe. Bolstered by December's merger with China Shipping Group , COSCO's focus on Greece is about building market share at a time of anguish in a bruised and oversupplied shipping sector, industry sources said.

The state privatization fund Hellenic Republic Asset Development Fund (HRADF) of Greece has accepted a “significantly improved” offer from China’s Cosco Group for the state’s majority stake in the Piraeus Port Authority (OLP). “HRADF’s board of directors accepted the improved offer made by COSCO Group (Hong Kong) Ltd in the context of the tender for the sale of the 67 percent of Piraeus Port Authority (PPA) shares,” an HRADF statement said. The Chinese group submitted on Wednesday an improved binding offer of 22 euros (US$24) per share which amounts to 368.5 million euros  (US$401m) for the controlling 67 percent stake in PPA, according to HRADF’s announcement.

Greece said it received an improved bid of 368.5 million euros ($402 million) that China's Cosco Group submitted on Wednesday for a 67 percent stake in Piraeus Port, the country's biggest. The board of the country's privatisation agency (HRADF) met on Wednesday and evaluated Cosco's offer. Privatisations are a key element of an international bailout Greece obtained in 2015. "HRADF's board of directors declared the aforementioned company as the highest bidder and invited it to submit the documents required…

China's Cosco sole bidder for the country's biggest port. Greece will evaluate on Wednesday an improved bid that China's Cosco is due to submit for a majority stake in Piraeus Port, a senior official at the privatisation agency (HRADF) said on Monday. Cosco was the sole bidder for a 67 percent stake Piraeus Port Authority (OLP), the manager of the country's biggest port which is a gateway to Asia, eastern Europe and north Africa. The agency has asked Cosco to improve its offer. "HRADF's board is scheduled to convene Wednesday evening to assess an improved offer that Cosco will have submitted by then," the official told Reuters on condition of anonymity. The official said if Cosco's bid was not satisfactory the agency could ask the company to improve it further.

Greece said that final bids for a majority stake in Piraeus Port Authority, operator of its biggest port, were submitted on Monday but the prospective buyers will not be made public until early next month. Alexis Tsipras's government had halted the sale after winning elections in January but resumed the process under the 86 billion-euro bailout deal it agreed with its euro zone partners in the summer. The deadline for final bids was 1700 GMT on Monday. "The procedure for the submission of binding offers for Piraeus Port Authority was completed today," the country's privatisation agency (HRADF) said in a statement. The agency said there will be an announcement on Jan. 12 when the bids will be unsealed.