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Concession deal in the port of Thessaloniki is delaying

Maritime News October 9, 2017

port of Thessaloniki

The concession deal in the port of Thessaloniki is delaying, as the consortium between Deutsche Invest Equity Partners, Belterra Investments and Terminal Link, which was named by the privatization fund as the preferred buyer, is still hesitating to conclude the contract.

The procedure for choosing a concessionaire to acquire 67% of the port’s assets for the next 40 years ended in June. The consortium then declared its readiness to take over the facility. A few months later, however, the port is still part of the assets of the privatization fund of Greece.

According to unconfirmed information there is a conflict between two of the participants in the consortium – the French Terminal Link and Belterra Investments, which is controlled by Greek-Russian businessman. The two companies are in dispute over management rights over the harbor. The official position, however, is that the reason for the delay is bureaucracy.

A spokesman for the company says the reason for the delay is the complexity of the deal. It is expected that the contract for the port concession will be concluded by the end of October. A few months later – by mid-January 2018, have to be transferred 232 million EUR, as was the transaction price determined by the privatization agency.

One of the reasons for delay is the lack of a document for the creation of the consortium between the three companies. After a meeting with the Greek authorities, the representatives of the companies promised to submit this document to the National Audit Office. The company’s spokesman confirmed the incomplete documentation, but did not specify details.

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