OLP privatization is going ahead
Despite the efforts of some officials from the ruling SYRIZA party to prevent the privatization of Piraeus Port Authority (OLP), state sell-off fund TAIPED is proceeding with the process for the submission of binding bids for a 67 percent stake in the entity.
Interested parties have until October 16 to submit their binding offers, with TAIPED aiming to have the tender completed by the end of next month.
Assessors hired by OLP will determine a minimum price for the sale of the controlling stake in the company, below which no offer will be accepted. This threshold will only be known by OLP and its consultancy, not the bidders in- terested in the country’s biggest port. The consultancy’s assessment will be delivered to the TAIPED management at about the same time as the bids by the suitors.
Today the Council of State, the country’s highest administrative court, will hear the case of the Attica Regional Authority and various entities from Piraeus against OLP’s privatization. However Economy Minister Giorgos Stathakis referred to the OLP selloff project yesterday, saying that “the government will proceed as has been agreed,” adding that this will also be the case with all other agreed privatization projects.
Interested parties have until October 16 to submit their binding offers for the OLP privatization.