Photo: Thessaloniki Port Authority
On December 21st, 67% of shares in the Greek port were sold to SEGT consortium consisting of Deutsche Invest Equity Partners, Belterra Investments, and Terminal Link SAS for almost € 232m.
The agreement is waiting to be ratified by the parliament; the purchase is expected to be concluded in the Q1 2018. However, it does not include port infrastructure, which has been leased to the Thessaloniki Port Authority via a concession until 2051.
The total value of the agreement amounts to € 1.1b and, apart from the shares acquisition, includes mandatory investments amounting € 180m within the next seven years, as well as expected revenues from the Concession Agreement for the Hellenic Republic estimated over € 170m. The total value also includes the expected dividends receivable by the Hellenic Republic Asset Development Fund for the remaining 7.22% of shares and the estimated investments (in excess of the mandatory ones), until the end of the concession period in 2051.
Thessaloniki Port Authority
Thessaloniki 546 25
PO Box 104 67
Postal Code: 54 110
Global Port & Marine Operations - 11th International Harbour Masters Congress 25-28 June 2018 UK/London