Consortium delays Thessaloniki Port sell-off

When sell-off fund TAIPED elected the consortium of Deutsche Invest Equity Partners, Belterra Investments and Terminal Link as the preferred bidder for the privatization of Thessaloniki Port Authority (OLTH) at the end of June, the bidder's officials professed their readiness to take over the management of the country's second largest port. Three-and-a-half months later, the company that will undertake the port's management has yet to be presented to TAIPED.

Consortium spokesman Sotiris Theofanis attempted to play down the issue on Thursday, arguing that the process of setting up the corporation has been delayed for longer than anticipated due to the complexity of the project. "The corporation has been set up," he said, adding that it aims to have completed the signing of the sale purchase agreement by end-October. If that happens, then the transaction could be completed by...