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Piraeus Port posts flat profit of US$4.3 million as revenues decline 3.3pc
STATE-OWNED Piraeus Port, the biggest in Greece, posted flat first half net profit of EUR3.3 million (US$4.3 million), drawn on revenues of EUR50.4 million, down 3.3 per cent.
Cosco Pacific, already in possession of the port's container terminal on a 35-year concession, is one of the bidders seeking to privatise the rest of the port, which handles passengers and cargo.
The Hong Kong-listed company is among five shortlisted companies seeking to buy the port company, as part of EUR240 billion bailout by the EU and the IMF.
Rivals include Ports America, APM Terminals, International Container Terminal Services Inc and close-ended investment company Utilico Emerging Markets Limited.
Cosco Pacific, already in possession of the port's container terminal on a 35-year concession, is one of the bidders seeking to privatise the rest of the port, which handles passengers and cargo.
The Hong Kong-listed company is among five shortlisted companies seeking to buy the port company, as part of EUR240 billion bailout by the EU and the IMF.
Rivals include Ports America, APM Terminals, International Container Terminal Services Inc and close-ended investment company Utilico Emerging Markets Limited.
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