Greece sells largest port Piraeus to Chinese company

Greece sells largest port Piraeus to Chinese company

Athens has signed a €368.5 million deal to sell the operator of Piraeus port to the Chinese shipping group COSCO, Reuters reported. This is the second major privatization for the country since last year.

Under the deal, COSCO will acquire 51 percent of the listed Piraeus Port Authority for €280.5 million and the remaining 16 percent for €88 million after five years, once it concludes mandatory investments.