Greece to open Thessaloniki port financial bids this week -sources

Thessaloniki Port Authority SA

04/04/2017 10:46

ATHENS, April 4 (Reuters) - Greece will this week ask for 
improved financial bids from shortlisted investors seeking to 
buy a majority stake in its second-largest port, two officials 
said on Tuesday. 
    The sale of a 67 percent stake in Thessaloniki Port 
 OLTr.AT , which is required as part of Greece's international 
bailout, began in 2014 but has been beset by delays. However, 
Athens invited shortlisted investors to submit binding bids last 
month and got three offers. 
    "The financial offers are expected to be opened near the end 
of the week," one of the officials told Reuters.     
    Those on the shortlist include 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 bidders will be asked to improve the price offered and 
once this stage is concluded, Athens could name a winner by the 
middle of next month, the official added. 
    Thessaloniki Port has a market value of $214 million and had 
a throughput of 344,277 20-foot equivalent units (TEUs) in 2016. 
    The buyer will operate the port for 40 years and will have 
to spend 180 million euros ($192 million) by 2021 to upgrade it 
and raise the throughput to 550,000 Us. 
($1 = 0.9387 euros) 
 
 (Reporting by Angeliki Koutantou; editing by Alexander Smith) 
 ((angeliki.koutantou@thomsonreuters.com; +30 210 3376436; 
Reuters Messaging: angeliki.koutantou.reuters.com@reuters.net)) 
 
Keywords: GREECE PRIVATISATIONS/PORT