On 20th of January 2016, HRADF’s Board of Directors accepted the improved offer tabled by Cosco Group in the context of the tender process for the obtaining of 67% stake of Piraeus Port Authority.
For the acquisition of 67% stake of Piraeus Port, Cosco offered EUR 368,5 million, with EUR 22 per share.
Hellenic Republic Asset Development Fund (HRADF) announced that only Cosco Group submitted the offer for the acquisition of a 67% shareholding in Piraeus Port.
The tender process for the sale of majority stake in “Piraeus Port Authority” was launched in March2014, through HRADF announcement for the invitation to submit an expression of interest. The port is a hub of international trade being the only European port in the East Mediterranean with the necessary infrastructure for the accommodation of transshipment cargo.
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