Terms of OLP sale process to be finalized on Wednesday

Changes in the terms of the process for the privatization of Piraeus Port Authority (OLP) are expected to be finalized on Wednesday. The board of state sell-off fund TAIPED made its decisions on Tuesday, but is awaiting the approval of Prime Minister Alexis Tsipras before making the necessary announcements and proceeding with the tender.

TAIPED sources said the main change concerns the stake up for grabs, which will decline from the original 67 percent to 51 percent, with the preferred bidder being given the option of acquiring another 16 percent after completing certain works in the port’s development and expansion.

Issues in the privatization of OLP and regional airports were scheduled to be discussed at Tuesday’s cabinet meeting, while sources said that the delay in restarting the OLP process was due to poor coordination and the heavy workload of the cabinet.

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