FT — A German-led consortium is the highest bidder for a two-thirds stake in the northern Greek port of Thessaloniki, in a deal valued at €1.1bn, Greece’s privatisation agency HRADF said Monday.
The sale of part of Greece’s second-largest port, which is strategically located to serve the Balkan countries and the Black Sea region, was agreed under terms of the country’s current bailout by the European Union and the International Monetary Fund.
Private-equity firm Deutsche Invest Equity Partners, France’s Terminal Link and Greece’s Belterra Investments, controlled by Russian-Greek businessman Ivan Savvides, offered €231.9m for a 67 share of the port.
The consortium will invest €180m over seven years to upgrade the container terminal and other facilities, with another €500m of investments and dividend payments projected over the concession period, HRADF said.
