Greece sets March 24 bid deadline for Thessaloniki port sale - sources (updated)

Thessaloniki Port Authority SA

31/01/2017 13:53

* Greece is selling 67 percent stake in its No.2 port 
    * Eight firms had been shorlisted for the stake 
    * Port workers oppose sale 
 
 (Adds detail) 
    ATHENS, Jan 31 (Reuters) - Greece has given investors until 
March 24 to submit binding bids for a majority stake in its 
second biggest port, Thessaloniki Port  OLTr.AT , two sources 
close to the matter said on Tuesday. 
    The sale of the 67 percent stake in the port and other 
privatisations are a key part of the country's current EU/IMF 
international bailout deal, the third since 2010. 
    But the programme has fallen behind schedule due to 
political resistance and red tape, and has raised only 4 billion 
euros ($4.3 billion) so far versus an original target of 50 
billion euros. 
    "The board of the privatisations agency decided that the 
binding bids for the port will be submitted on March 24," said 
an official from the agency, who declined to be named.  
    Potential investors include shortlisted Danish container 
terminal operator APM Terminals  APMOLM.UL , Phillipines-based 
International Container Terminal Services ICTS  ICT.PS , 
Dubai-based P&O Steam Navigation Company (DP World)  DPW.DI  and 
Japan's Mitsui & Co  8031.T . 
    Past deadlines for the submission of binding bids have been 
pushed back several times due to differences over the amount of 
mandatory investment and other issues. 
    Athens has said the buyer will have to invest 180 million 
euros by 2021 to develop the port. 
    Port workers oppose the sale, saying the size of mandatory 
investment is low and reducing the value of the port, said 
Lazaros Tantalidis, their representative on the port's board. 
    Thessaloniki Port, which currently has a market value of 
$200.5 million (186 million euros), had a throughput of 344,277 
TEUs (twenty-foot equivalent units) last year. 
    (1 euro = $1.0752) 
    ($1 = 0.9302 euros) 
 
 (Reporting by Angeliki Koutantou; Editing by Karolina Tagaris 
and Mark Potter) 
 ((angeliki.koutantou@thomsonreuters.com; +30 210 3376436; 
Reuters Messaging: angeliki.koutantou.reuters.com@reuters.net)) 
 
Keywords: GREECE PRIVATISATION/PORT