Three International Bidders – Excluding Cosco – Want Thessaloniki’s Port

Lefkos Pyrgos, Thessaloniki. Photo by Leandro Neumann Ciuffo via Wikimedia Commons

ATHENS – Greece has received three binding bids for a majority stake in its second-largest port in Thessaloniki, the country’s privatizations agency, but they didn’t include one from China’s Cosco, which runs the largest port of Piraeus on Athens’ southern coast.

The bid was to acquire a 67 percent stake and drew offers from the Phillipines-based International Container Terminal Services (ICTS), Dubai-based P&O Steam Navigation Company (DP World) and German private equity firm Deutsche Invest Equity Partners submitted offers, the agency said.

The sale attempt began in 2014 under a staggering privatization drive that saw opposition from labor unions and the Radical Left SYRIZA which came to power the next year and reneged on its promise, stepping up the sale of the country’s assets on orders of international lenders.

Cosco had earlier shown interest in the Thessaloniki port as it stepped up its presence in Greece as a gateway to the European Union.