COSCO – OLP deal signed

TAIPED (Hellenic Republic Asset Development Fund) and China Cosco Shipping Corporation Limited on Friday singed an agreement for the sale of the Piraeus Port Authority – OLP to the Chinese group.

According to TAIPED, the 1.5 billion euro deal foresees that the Chinese group will pay the sum of 368.5 million euros for a 67 percent stake in OLP, while it will also proceed with mandatory investments, worth 350 million euros, within the next decade.