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The Greek authorities have chosen a buyer largest port in the country

Greek authorities summarized the results of the tender for privatization 67-per cent stake in the port of Thessaloniki. It will be owned by a consortium of three companies, agreed to pay for the asset about 232 million euros, according to RIA Novosti.

The consortium includes the companies Deutsche Invest Equity Partners GmbH, Belterra Investments LTD and Terminal Link SAS. In addition to securities, they will be eligible for a concession to manage the port 2051 years.

The Hellenic Foundation for the use of state property agency said that the total value of the contract is 1,1 billion euros. It includes, in addition to the mandatory payments to 231,9 million euros, 180 million investment over the next seven years, and the expected return to the Greek State by the concession agreement in the amount of 3,5 percent of the turnover of the port. In addition, the Fund expects to profit from the dividends that will accrue to the remaining state-owned 7,2 percent stake in the port of Thessaloniki.

Tender for the privatization 67 percent stake in the harbor was announced in April 2014 years. In the first stage, attended "Russian Railways" (RZD), but the further struggle for the asset the company refused.

Large-scale privatization of state assets is carried out in Greece in recent years in order to replenish the budget, significantly reduced because of the debt crisis in the country and falling tax revenues. In addition, Athens fulfill recommendations of the IMF to liberalize the economy. In the 2012, the Greek government has included in the program of privatization of state enterprises 19, including 7 12 companies and seaports.

Thessaloniki Port - one of Greece's largest container ports, in terms of turnover second only to the port of Piraeus. The Greek government expects container port in Thessaloniki 2017 year at 350 thousand TEU (equivalent standard 30-foot container).

A source: Slow

Tags: Greece, Economy, Port Privatization