The board of the state-run Hellenic Republic Asset Development Fund (HRADF) on Wednesday unanimously declared Hong Kong-based Cosco Group as the ‘preferred investor’ for the purchase of 67 percent of the Piraeus Port Authority S.A. shares.
The board of the state-run Hellenic Republic Asset Development Fund (HRADF) on Wednesday unanimously declared Hong Kong-based Cosco Group as the ‘preferred investor’ for the purchase of 67 percent of the Piraeus Port Authority S.A. shares.
The privatization of the specific port, Greece’s largest, is viewed as a “litmus test” of the leftist Greek government’s volition to push through reforms and meet its commitments to institutional creditors.
A routine review of the sale by the Special Council of Audit will precede the final signing of the deal.