IGOUMENITSA – Continuing to sell of major stakes in its key ports, Greece’s privatizations agency picked an Italian-led consortium as the preferred bidder in the sale of a controlling interest in the port of Igoumenitsa on the west coast.

Italy’s Grimaldi Euromed with Greece’s Minoan Lines and Investment Construction Commercial and Industrial were selected for a 67 percent stake in the port, the closest to Italy, said Reuters.

The consortium offered 84 million euros ($82.34 million) and the transaction documents will be signed following approval by the Court of Audit, the agency said, according to the report.

The New Democracy government, which is moving to let investors take over the key northeastern port of Alexandroupoli, was looking for bidders for Igoumenitsa as part of a plan for the country to be a hub for goods from Asia to Europe.

In the last decade Greece has raised more than 7 billion euros ($6.86 billion) from privatizations as part of its three international bailouts that expired in 2018 and required the sale of state enterprises under austerity measures.