Grimaldi completes acquisition of majority stake in the Port of Heraklion
NewsThe Grimaldi Group has finalised the acquisition of a 67% stake in the Heraklion Port Authority S.A. for €80 million.
HPH bags Thessaloniki
Having lost out to Cosco Pacific in the bidding for a 30-year concession to develop and operate two container terminals at the Greek port of Piraeus, Hutchison Port Holdings (HPH) has won the consolation prize by being named the preferred bidder for the development of new container facilities at the Port of Thessaloniki.
Bidding in association with Hutchison Port Investments (HPI Sarl), local pharmaceuticals firm Alapis and its affiliate LYD, HPH offered €419M representing the present value of the guaranteed portion of the annual fees over the entire 30-year concession period. Other charges, such as annual rental fees for the docks, will be additional to this amount.
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This complete item is approximately 400 words in length, and appeared in the August 2008 issue of WorldCargo News, on page 4. To access this issue download the PDF here.
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