Greece’s privatization fund (HRADF) declared the international consortium that submitted the highest bid for a majority stake of the Thessaloniki Port Authority SA as the preferred investor in the tender.
Specifically, the board of directors of the Hellenic Republic Asset Development Fund unanimously declared the consortium – comprised of Deutsche Invest Equity Partners GmbH, Belterra Investments Ltd. and Terminal Link SAS – as the preferred Investor for acquisition of the 67-percent stake in the northern Greece port authority.
The next step in the privatization process is submission of the relevant file to the Court of Audit for a mandatory pre-contractual review, with a sale contract set for signing immediately after the expected approval by the administrative court.
The country’s second largest, Thessaloniki port handled 344,277 teu in 2016 and is set to grow into a major trade hub to Eastern Europe. The consortium made a bid of 231.92 million euros and was announced as the highest bidder by HRADF in April.
“The development signals a new era for the port of Thessaloniki, the prospects of economic development of Northern Greece and the country as a whole,” HRADF said in an announcement.