Off the wire
• China's farmland remains above "red line"  • Boko Haram kills 1,900 Nigerian herdsmen in four years: official  • Russia prevents terror attacks in Crimea: Russian security service  • Roundup: Counter-terror measures stepped up in Italy  • Soldado injury gives Villarreal problems ahead of Champions League qualifier  • Brexit has lasting effects on German economy: study  • NATO says Turkey, valued ally, membership not in question  • Xinhua world news summary at 1530 GMT, Aug. 10  • Roundup: China, Mexico vow to boost economic, cultural cooperation  • Kenya seeks to break world record in tree planting  
You are here: 　 Home

Cosco Shipping acquires majority stake in Piraeus Port Authority

Xinhua, August 11, 2016 Adjust font size:

Cosco Shipping on Wednesday acquired a majority stake in Piraeus Port Authority through the Athens Stock Exchange, it was reported Wednesday.

The Chinese company signed a memorandum of understanding which formally completes the transfer of a 51 percent equity holding in Piraeus Port Authority and the custody of an additional 16 percent stake.

Cosco (Hong Kong) Group Limited, wholly owned by Cosco Shipping, officially became the controlling shareholder of the port, and took over its management and operation.

President of Cosco Shipping Wan Min visited the Athens Stock Exchange and rang the bell at the opening session, marking the debut at Greece's largest port.

Gao Wenqi, Charge d'Affaires of the Chinese Embassy in Greece, Charalampos Gotsis, chairman of the Hellenic Capital Market Commission and other Greek and Chinese officials attended the ceremony. Endit