ECONOMY

New Zealand group eyes Piraeus Port

While the Piraeus Port Authority, known as OLP, is set to complete its agreement with Chinese giant Cosco concerning the extension of their existing contract in the next few days, a group from New Zealand has emerged as a credible suitor for the OLP stake that is set to go up for sale.

It appears that Morrison & Co, in cooperation with ICM Limited, will enter the bidding for the OLP stake after the two groups sent a letter to Merchant Marine Minister Miltiadis Varvitsiotis expressing their strong interest in the port authority’s privatization.

Morrison intends to focus on port management in the coming years by selling its holdings in airports in New Zealand, England and Scotland.

ICM, which manages the Utilico Emerging Markets Ltd investment fund, holds stakes in a series of port activities such as port management company International Container Terminal Services.