Greece puts Port of Piraeus up for sale

Greece has taken the first step toward privatizing the Port of Piraeus. Now the financially struggling country is waiting for potential investors to come knocking.

Photo: /ritzau/Thomas Borberg

Most people are likely aware that Greece is strapped for cash, and the hard-pressed Southern Europeans have now launched a large-scale fire sale that includes the old port in Piraeus.

Greece plans to sell 67 percent of the shares in the company Piraeus Port Authority (PPA), which handles operations in the port. Potential investors now have a month and a half to submit bids. The port is expected sold before the end of 2014.

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