Maersk, Cosco interested in PPA majority stock

PPA (Piraeus Port Autority)’s majority stock is to be put up for sale by the Greek government.

According to the Wall Street Journal, which quotes a top government official, the new proposal will be forwarded to interested parties next week. Remuneration from the privatization will be lower.

The list of buyers includes the world’s powerful, such as Cosco, APM Terminals (AP Moller-Maersk), Ports America and International Container Terminal. The first two are the most likely to succeed. Cosco has an advantage already since it already owns two terminals in the PPA.