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The HRADF announces the consortium comprising of «Deutsche Invest Equity Partners GmbH», «Belterra Investments Ltd.» and «Terminal Link SAS» as the bidder of the international competitive process for the acquisition of 67% of Thessaloniki Port Authority SA. Τhe improved financial offer is of €231,926,000.

The relevant HRADF press release (www.hradf.com):

hradf Athens, 04/24/2017

In a landmark development for the HRADF, the Hellenic Republic’s Privatization Programme and Northern Greece, the consortium comprising «Deutsche Invest Equity Partners GmbH», «Belterra Investments Ltd.» and «Terminal Link SAS» submitted an improved financial offer for the acquisition of 67% of Thessaloniki Port Authority SA, as part of the respective international competitive process.
The improved financial offer envisages payment of a consideration of EUR Two Hundred Thirty-One Million Nine Hundred Twenty-Six Thousand (€231,926,000) for the acquisition of 67% of shares in ThPA S.A. In assessing the improved financial offer, HRADF’s Board of Directors took into account the two independent valuations for THPA and decided to declare the above-mentioned consortium as the Highest Bidder.
The total value of the agreement amounts to EUR 1.1 billion and includes among others the aforementioned EUR 231,926,000 offer, the mandatory investments amounting to EUR 180 million over the next seven years and the expected revenues from the Concession Agreement for the Hellenic Republic, in an expected amount in excess of EUR 170 million. The total amount takes also into account the expected dividends receivable by the HRADF for the remaining 7.22% shareholding as well as the estimated investments (in excess of the mandatory ones) until the expiration of the concession, in 2051.
The above development signals a new era for the Port of Thessaloniki, the prospects of economic development of Northern Greece and the country as a whole.
A file relating to the tender process will be submitted to the Court of Auditors in the coming weeks for a pre-contractual review of the legality of the process; the share purchase agreement (SPA) will be signed, following the Court of Auditors’ approval.
The completion of the transaction is subject to the competent authorities’ approvals and the satisfaction of certain further conditions provided for the share purchase agreement (SPA).
Morgan Stanley and Piraeus Bank acted as financial advisors, Freshfields Bruckhaus Derringer LLP and Alexiou - Kosmopoulos Law Firm acted as legal advisors, the Hamburg Port Consulting (HPC) and Marnet acted as technical advisors on behalf of HRADF.

Thessaloniki Port Authority SA announces the financial calendar for the year 2017 in accordance with articles 4.1.2  and  4.1.4.3.1 of the Athens Exchange Rulebook:

  • Publication of the annual financial statements of THPA  SA, for the corporate use 2016, Thursday 27 April 2017. Data and information & Annual Financial Report for the fiscal year 2016 will be released at the Company’s website (www.thpa.gr) as well as at the website of the Athens Exchange (www.athexgroup.gr).
  • Presentation of the company's financial results to analysts Tuesday 30 May 2017.
  • Annual General Shareholders Meeting Friday 30 June 2017.
  • Ex-dividend date Monday 31 July 2017.
  • Dividend beneficiaries "Record date" Tuesday 01 August 2017.
  • The dividend payment will start on Friday 04 August 2017.
  • The company will issue a newer announcement on the dividend payment procedure.

THPA SA reserves the right   to change the above dates, following relevant notification to the public.

The Hellenic Republic Asset Development Fund (Fund) announces the completion of the unsealing procedure of the three binding financial offers for the sale of a 67% shareholding in Thessaloniki Port Authority SA, submitted by:

  • International Container Terminal Services Inc.
  • The Peninsular and Oriental Stream
  • Deutsche Invest Equity Partners GmbH, Belterra Investments LTD και Terminal Link SAS

According to the terms of the above process, the Fund requested the submission of improved financial offers to be assessed at a subsequent meeting of the Board of the Fund.

Thessaloniki Port Authority SA announces that it has signed on 23.03.2017 the collective agreement with the Federation of Greek Port Employees (OM.Y.LE) and on 06.04.2017 the collective agreement with the Federation of Greek dockers (OFE), concerning the terms of employment and payment of THPA SA employees and dockers staff.

The duration of these agreements is two years, starting on 01.01.2017 and ending 31.12.2018

The HRADF received the binding financial offers for the acquisition of 67% of the share capital of Thessaloniki Port Authority SA, submitted on 24/03/2017, in London to the financial advisor of the Fund.

Binding bids were submitted by:

  • International Container Terminal Services Inc.
  • The Peninsular and Oriental Stream
  • Deutsche Invest Equity Partners GmbH, Belterra Investments LTD and Terminal Link SAS.

The launch of the tender evaluation process will begin immediately.

Thessaloniki Port Authority SA informs that, on 09.05.2016, the five-year term of the General Director Mr. Emmanuel Michaelidis expired. Therefore, the company will be operating with a single General Director, Mr Asterio Brozo as well as the managers of existing operational units.