The Port Authority of Thessaloniki (OL.Th) is reportedly on the “radar” of Miami-based H.I.G. Capital, with the multinational fund’s investments manager for Greece citing an interest “as long as certain conditions exist”.
Constantinos Bitros, the managing director of Athens-based Inventio SA, made the statement when asked about the prospect of Greek-Russian businessman Ivan Savvidis selling off his majority stake in the ATHEX-listed port authority, the second largest in Greece.
H.I.G. Capital is billed as a leading global “alternative” investment firm with US$57 billion of equity capital under its belt.
HIG has previously expressed an interest in creating a large logistics hub at the increasingly strategic state-run port of Alexandroupolis, in extreme northeast Greece, while also citing interest in the port authority of Volos, in central Greece.
At the same time, Bitros referred to a “complicated” situation involved with the port of Thessaloniki.
On a wider scope, he reminded that H.I.G. Capital Advisors LLC has systematically and over the long-term invested more than 1.350 billion euros in Greece – primarily the hotel and logistics sectors – and continues to provide a vote of confidence for the Greek economy, with the goal being to reach an asset value of 1.5 billion euros, and equity investments of more than 350 million euros.
Latest News
Vardis Vardinogiannis: ‘On a Ship’s Bridge You Always Look Forward’
Ten milestones in the half century since the creation of Motor Oil Group, as described by Vardis Vardinogiannis, who passed away on Tuesday at the age of 91
DBRS Says Greek Banks ‘Shielded’ from ECB Rate Cuts
The agency explains that fund disbursements through the banking sector will help offset pressures anticipated on interest margins beginning in 2025, due to expected rate cuts by the European Central Bank (ECB).
Meta Cuts Facebook and Instagram Subscription Fees by 40%
The social media giant also revealed that it will continue to offer free access to Facebook and Instagram for EU users, provided they agree to see ads based on a limited set of user data.
Skyrocketing Use of Debit, Credit Cards
The total value of the transactions conducted with debit and credit cards in the country in the first half of 2024 rose 2% on the corresponding period of 2023
JP Morgan Revised Greece Outlook to ‘Overweight’
The investment bank notes that Greece is showing the strongest GDP growth in the Eurozone. Additionally, efforts to clear up bank balance sheets are anticipated to yield increased capital returns.
Vardis I. Vardinogiannis, Greek Tycoon and Shipping Magnate, Dies at 91
In 1990, Vardinogiannis was targeted in an attack which involved three rockets fired at his vehicle by the terrorist organization 17 November.
Kudos for Greek Sheep’s Milk Cheeses
Graviera is the Greek version of the Swiss gruyère, and is generally considered the second most popular cheese made in the country after feta
EIB Survey: Greeks Rank Climate Change as Top Concern After Cost of Living
Specifically, 98% of the Greeks surveyed stated that the country must to adapt to climate change, with 60% saying that priority should be given to these adjustment measures
Trump Tells Putin not to Escalate Ukraine War during Phone Convo
Meanwhile, President Joe Biden, is preparing to lobby Trump against abandoning U.S. support for Kyiv
Former Thessaloniki Mayor Yiannis Boutaris Dies at 82
Boutaris entered politics in 2010, serving as the 60th mayor of Thessaloniki for two consecutive terms until 2019, becoming a transformative figure with his progressive policies.