OLTH head confirms four candidates

Four foreign investors are expected to bid for a majority stake in Greece’s Thessaloniki Port (OLTH) on Friday, the offer deadline, the port’s top executive said on Wednesday.

Philippines-based International Container Terminal Services (ICTS), Dubai-based P&O Steam Navigation Company (DP World), Japan’s Mitsui & Co and German private equity Deutsche Invest Equity Partners had all completed due diligence, OLTH chairman Constantinos Mellios told Reuters.

“Those four are still interested as we speak. There is information that all four will submit binding bids on Friday,” Mellios said, adding that Deutsche Invest had teamed up with French container shipping company CMA CGM.

Greece’s privatization agency would open the offers by April 7 at the latest, he said.

Thessaloniki port workers walked off the job for three hours on Wednesday to protest against the sale, but Mellios said it would not affect operations.

[Reuters]