COSCO needs to sumbit higher offer for Piraeus Port Authority

Piraeus PortThe Hellenic Republic Asset Development Fund (Fund) announces that during the session of 12 January 2016, its Board of Directors unsealed the binding financial offer for the sale of a 67% shareholding in Piraeus Port Authority SA, submitted by Cosco Group (Hong Kong) Limited. According to the terms of the process, the Fund requested the submission of an improved financial offer to be assessed at a subsequent meeting of the Board scheduled to be held in the coming week.