Greece called for improved financial bids for concession of Thessaloniki Port

Thessaloniki PortGreece asked for improved financial bids for concession of country’s second-largest port in Thessaloniki. The Hellenic Republic Asset Development Fund urged the short-listed investors to improve their offers for majority stake in Thessaloniki Port, as currently the privatization agency got three offers last month for the sale of a 67% stake. The bidders are the Philippinean International Container Terminal Services (ICTS), the joint offer from German equity firm Deutsche Invest Equity Partners and French Terminal Link SAS, as well as the Dubai-based P&O Steam Navigation Company (DP World).

“During today’s meeting, the board of directors considered three binding financial offers for the purchase of a 67-percent stake in the Thessaloniki Port Authority. Bidders were asked to make better offers which will be considered during the next HRADF directors’ meeting, as per tender conditions”, said the statement of Greece’s Hellenic Republic Asset Development Fund (HRADF).

The preferred bid is expected to be announced in May 2017. The tender refers to a 40-concession for the Thessaloniki port authority with an obligation to invest at least 180 million EUR.

The selloff is planned as part of Greece’s third bailout deal with the European Union and the International Monetary Fund.

The Port of Thessaloniki is one of the largest Greek seaports and one of the largest ports in the Aegean Sea basin, with a total annual traffic capacity of 16 million tonnes (7 million tonnes dry bulk and 9 million tonnes liquid bulk). As a free port, it also functions as a major gateway for the Balkan hinterland and southeastern Europe.