Maersk to Buy Greek Ports

 13 Jul 2015 09.05am

A.P. Moeller-Maersk A/S is in line to pounce upon Greece’s two biggest ports after Greek Prime Minister Alexis Tsipras put them up for sale in his proposal of budget-enhancing measures submitted to creditors, according to Bloomberg.

The news is more evidence of Maersk’s proactive attitude in regard to expanding the multifaceted Danish giant.

It was recently reported by PTI that Maersk Line had agreed a US$1 billion deal with Hyundai Heavy Industries to construct nine 14,000 TEU newbuild vessels.

“We’re interested in the Greek ports of Piraeus and Thessaloniki and are pursuing them as part of our growth plans,” Francois-Xavier Delenclos, Vice President at Maersk’s The Hague-based APM Terminals said recently.

Uncertainty remains over Greece after the Southern European country rejected the terms of an EU bailout plan, regarding the terms as humiliating.

Sale of major Greek assets, such as the ports of Piraeus and Thessaloniki, are one way in which the country can source vital funds to keep its banks in action after the amount Greek residents can withdraw was limited to 60 Euros per day.

However, with the rejection of the EU terms in a nationwide referendum, it remains to be seen if Greece’s membership of the Euro will be removed.

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