Greek port tender launches

The Hellenic Republic Asset Development Fund (HRADF) launched the tender process for the development of Heraklion Port on Crete, which handles ferries, cruise and cargo.

This tender process for the ‘Heraklion Port Authority’ (HPA S.A.) regards the sale of a majority stake of at least 67% in the company’s share capital. HPA has the right to exclusively use and operate the buildings, land and facilities of the port land-side zone of the port of Heraklion until January 2063, by virtue of a concession agreement with the Hellenic Republic.

What’s on offer?

HPA has management responsibilities of a) the old Venetian port, b) the port Linoperamata and c) the three fishing shelters: Loutra, Keratokampos and Arvi. It is envisaged that the Old Venetian Port will be excluded from the revised area of responsibility of the Organization.

The tender process will be held in two phases: (a) submission of expressions of interest and prequalification of interested parties and (b) submission of binding offers and selection of the preferred investor. Interested parties are invited to submit their expression of interest on 30 July 2021.

HRADF has appointed Deloitte Business Solutions SA. and Euroadvisers SA as joint financial advisors, the companies Your Legal Partners, Drakopoulos & Vasalakis Law Firm and Alexiou – Kosmopoulos Law Firm as joint legal advisors, Doxiadis Associates as technical consultant and Port Consultants Rotterdam BV as commercial consultant in Procedure and Transaction.

HRADF launched the tender within the framework of its strategy for the development of the country’s port infrastructure assets held in its portfolio.