Independent journal on economy and transport policy
12:16 GMT+1
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shipowning group Chinese COSCOCS has assumed the control of the Harbour Authority of the Pireo
Renewed the board of directors
August 11, 2016
Yesterday the Chinese shipowning group Lowers COSCO Shipping Corporation (COSCOCS), signing an appropriate agreement with the representatives of the government of Athens, has carried to term the acquisition of 51% of the capital of the Harbour Authority of the Pireo, quota to which the acquisition of ulterior a 16% of the capital will join shortly in order to reach a total participation of the Asian group pairs to established 67% for the privatization of the Greek harbour agency ( on 5 July 2016).
COSCOCS will acquire 67% of total the Greek Harbour Authority for 368,5 million euros, of which 280,5 million already poured in order to obtain the 5! % of the capital while remaining 88 million will serve in order to buy the ulterior quota 16%.
Yesterday is be moreover named new board of directors of Piraeus Port Authority (PPA) that it is constituted by 11 members, of which seven representatives of the Chinese group included Wan Min, director and chief executive officer of the COSCOCS, and Was Cheng Qiu, managing director of the Piraeus Container Terminal (PCT), the society that - through COSCO Pacific - is under responsibility of group COSCOCS and that it manages the activity of handling of the container to docks II and III of the port of the Pireo. Mins and Qiu are named respective president and managing director of the Harbour Authority of the Pireo.
In the new Board of the PPA the Greek government will be represented by Athanasios Liagos and John Kouvaris.
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Yesterday the Chinese shipowning group Lowers COSCO Shipping Corporation (COSCOCS), signing an appropriate agreement with the representatives of the government of Athens, has carried to term the acquisition of 51% of the capital of the Harbour Authority of the Pireo, quota to which the acquisition of ulterior a 16% of the capital will join shortly in order to reach a total participation of the Asian group pairs to established 67% for the privatization of the Greek harbour agency 
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
