HRADF request a better offer from COSCO for the acquisition of a 67-pct stake in Piraeus Port Authority

The Chinese multinational Cosco is the only bidder in a tender for the acquisition of a 67-pct stake in Piraeus Port Authority (OLP), Greece’s privatization agency revealed on Tuesday, after it unsealed the offers.

According to the Hellenic Republic Asset Development Fund (HRADF), its board of directors unsealed Cosco’s binding financial offer and will now request a better offer, which will be examined next week.

“According to the terms of the process, the Fund requested the submission of an improved financial offer to be assessed at a subsequent meeting of the board scheduled to be held in the coming week,” the Fund said in a press release.

“Our aim is to achieve a higher offer; the negotiating process is continuing,” senior HRADF officials said after the meeting.