EMEA News
Maersk Looks to Buy Greek Ports of Piraeus and Thessaloniki
A.P. Moeller-Maersk A/S is lining up to buy Greece's two largest ports after it was announced that the debt-riddled country was renewing a push to sell its majority stakes as part of bailout negotiations, Bloomberg and Agence France-Presse reports.
"We're interested in the Greek ports of Piraeus and Thessaloniki and are pursuing them as part of our growth plans," said Francois-Xavier Delenclos, a vice-president of business development at APM Terminals.
Terms for a bailout deal were negotiated by Greek Prime Minister Alexis Tsipras with European Union (EU) creditors on Monday, with the government having reportedly pledged last Friday to privatise the ports of Piraeus and Thessaloniki by October this year.
It is expected that the funds generated from the sale of the ports will go towards paying some of the country's substantial debts.
"We remain interested in showing Greek leaders our expertise in the investment, planning, building, modernizing and operating of ports," Delenclos said.
"We have a lot of experience in all markets and believe a competitive port system is integral to Greece's future success."
According to reports, the Greek government currently owns 74 percent of the port authorities in Piraeus and Thessaloniki.
Tsipras halted privatisation plans at Piraeus early this year, shortly after his government came into power in 2014.
The previous plans had called for the sale of a 67 percent stake in the Port of Piraeus.
It was reported earlier this month that Greece's ongoing financial troubles have led up to a fifth of the country's domestic shipping fleet stranded in Greek ports after capital controls prevented many smaller shippers from buying fuel abroad.
