Cosco's 369 mln Piraeus Port improved bid accepted, seals latest privatisation

EconomyBanking Tags: Corporates, Privatisations
Photo by Harry van Versendaal
Photo by Harry van Versendaal

Hellenic Republic Asset Development Fund said on Wednesday afternoon it accepted COSCO’s improved financial offer for the sale of 67 percent stake in Piraeus Port Authority (OLP).

The offered amount stands at 368.5 million, which corresponds to 22 euros per share at a marked premium of 70 percent on today’s closing price of 12.95 euros. The offer price is higher than the price range of 18.4 – 21.2 euros indicated by HRADF two ind...

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