Port of Thessaloniki privatisation finalised

The privatisation of the Port of Thessaloniki has been finalised through a €1.1bn deal Photo: Wouter Menninga/flickr/CC BY-SA 2.0 The privatisation of the Port of Thessaloniki has been finalised through a €1.1bn deal Photo: Wouter Menninga/flickr/CC BY-SA 2.0
Industry Database

The privatisation of one of Greece’s biggest seaports, the Port of Thessaloniki, has been finalised through a €1.1bn deal.

Ratification by Greece’s parliament, the Hellenic Parliament, of the port’s privatisation took place with a sale to a consortium of Russian-Greek, German and French businesses.

The disposal of port operator Thessaloniki Port Authority (OLTH) constitutes a combined share sale and concession arrangement, which was agreed under terms of Greece’s international bailout programme and took three years to complete.

Sixty-seven percent of OLTH has been acquired by Terminal Link, Deutsche Invest Equity Partners and Belterra Investments, with the companies agreeing to spend over €650m on upgrading the port’s facilities over the 34-year concession timeframe.

The agreement gained attention last year after the US Ambassador to Greece, Geoffrey Pyatt, brought up questions about its transparency, while a letter from Russian lender Promsvyazbank guaranteeing the transaction had to be re-issued after The Central Bank of the Russian Federation put the bank into temporary administration.

Greece’s privatisation agency, the Hellenic Republic Asset Development Fund, is now proceeding with disposing of the country’s Port of Alexandroupolis plus nine other regional ports that are currently fully-owned by the Greek state.

LATEST PRESS RELEASES

Intermodal Europe 2018 steers the way for the global container shipping industry

With the global container shipping market currently estimated to be worth $4 trillion and representi... Read more

A TRADITIONAL TMS, WE DON'T THINK SO

1-Stop Connections (1-Stop) is the industry leader in solving supply chain challenges to speed upthe... Read more

Arctic Route: an historic milestone for SOGET and S)ONE

On September 6th, at the Radicatel Terminal which is located between Le Havre and Rouen, the special... Read more

SOMACOM chooses TGIBOX to access to a real time geolocalization of its CHE

Since the beginning of June, SOMACOM is operating TGIBOX with 4 Straddle Carriers on the container t... Read more

KRIBI port chooses OSCAR Terminal Operating System !

To achieve its ambition to become an essential logistics platform in the Central African region, the... Read more

World’s smartest digital port with Northern collaboration:

World’s smartest digital port with Northern collaboration: Largest multipurpose port in Finland adop... Read more

View all