Independent journal on economy and transport policy
07:26 GMT+1
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Agreement COSCOCS - HRADF that confirmation the acquisition of 67% of the Harbour Authority of the Pireo from the Chinese group
has been undersigned yesterday to Beijing
July 5, 2016
Yesterday to Beijing the shipowning group Lowers COSCO Shipping Corporation (COSCOCS) and the Greek agency for the privatizations Hellenic Republic Asset Development Fund (HRADF) has undersigned a letter of attempts that confirmation that the conditions established in the Share Purchase Agreement for the acquisition of 67% of the share capital of the Harbour Authority of the Pireo from group COSCO are satisfied( 21of January 2016). The letter is signed by the president and director of COSCOCS, Wan Min, and from the president of HRADF, Stergios Pitsiorias, to the presence of the Prime Ministers of China and Greece, Them Keqiang and Alexis Tsipras.
the PLC signed 8th April, than some days before is approved of by the Piraeus Port Authority (PPA), authorized from the Hellenic Competition Committee and ratified from the Greek Parliament, it previews that the vital quota steps to group COSCOCS for 368,5 million euros. Moreover the Share Purchase Agreement as expected includes investments from the Chinese company shipowning pairs to 350 million euros and returns for the Greek State estimated in 410 million euros deriving from the deposit in the state cases of 3.5% of the annual turnover of the Harbour Authority from the concession contract. The government of Athens previews that the agreement, included dividing and interests which had to the HRADF and ulterior investments carried out besides the fixed minimal threshold, he has a total value of approximately 1,5 billion euros.
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Yesterday to Beijing the shipowning group Lowers COSCO Shipping Corporation (COSCOCS) and the Greek agency for the privatizations Hellenic Republic Asset Development Fund (HRADF) has undersigned a letter of attempts that confirmation that the conditions established in the Share Purchase Agreement for the acquisition of 67% of the share capital of the Harbour Authority of the Pireo from group COSCO are satisfied
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- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
