Piraeus Port Authority’s privatisation inches closer

The ongoing saga regarding the privatisation of Piraeus Port Authority appears to be almost over, with Greek officials offering a €500m (US$545m) valuation of the port to creditors according to The Wall Street Journal.

Greece’s deputy prime minister, Yanis Dragasakis, also told China’s official state news service Xinhua that the government will sell its majority share in the port.

Dragasakis said that Cosco, which already operates two out of three container terminals in Piraeus, and other bidders “can make a very competitive offer”.