Piraeus port CEO resigns ahead of privatisation

© Khunaspix Dreamstime.

The Greek financial tragedy has inevitably hit the freight business. The government, which has had to bow to EU demands, has put the privatisation of the port back on the table – triggering the resignation of the CEO, who has headed the authority for six years. While it is only selling 51%, a buyer has the right to raise its share to 67.6% – the government’s entire share – within five years if it invests $300m. Standby for Chinese money: ...