Piraeus Port Authority moves one step closer to sale completion

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The Piraeus Port Authority (OLP) board decided during a meeting on Wednesday to hold an extraordinary general meeting on April 1 and fulfil Greek state sell-off fund TAIPED’s demand for a shake-up so as to accelerate the sale of a 67 percent stake in OLP to Cosco Pacific.

OLP’s alternate chief executive officer, Stavros Kyramargios, who opposes the privatization, is said to have disputed the legality of yesterday’s board meeting, saying that a legal counsel should be present. One was eventually brought to join the proceedings. Kyramargios also voted against holding the general meeting.

The April 1 meeting will take place at a hotel in Athens.

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