BUSINESS

Greece concludes sale of 67 percent stake in Thessaloniki Port

TAGS: Privatizations

Greece concluded the sale of 67 percent stake in Thessaloniki port, the country’s second-largest, to a German-led consortium, its privatizations agency said on Friday.

Deutsche Invest and its partners, France’s Terminal Link SAS and Cyprus-based Belterra Investments, signed the deal in December. The sale is part of a privatization scheme Greece has agreed under its latest international bailout.

The deal is worth 1.1 billion euros, HRADF said, and the consortium has already paid 231.9 million euros to take over the port as well as agreeing to spend at least 180 million euros to upgrade its infrastructure within seven years. [Reuters]

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