ECONOMY

TAIPED to sell stakes in four regional ports

taiped-to-sell-stakes-in-four-regional-ports

Greece plans to sell majority stakes in four ports as part of a privatization plan agreed with its lenders after the country exited the bailouts in 2018, a document from the state privatization agency (TAIPED) showed on Tuesday.

TAIPED will sell majority stakes in the share capital of Alexandroupoli, Igoumenitsa, Iraklio and Volos ports, the agency said in an invitation to hire financial advisers for the sales.

China’s Cosco bought a 51 percent stake in Piraeus Port, the country’s biggest, in 2016.

A German-led consortium also acquired a 67 percent share in Thessaloniki Port in 2018.

Greece aims to raise 2.4 billion euros from state asset sales this year, including the further privatization of its biggest gas utility, DEPA, and the sale of a minority stake in Athens International Airport.

The ongoing coronavirus crisis has not affected its privatization program so far, Greek officials close to the matter have told Reuters.

[Reuters]