French giant CMA CGM to join race for Thessaloniki Port stake

The interest of the world's third biggest container shipping company in a 67 percent stake in Thessaloniki Port Authority (OLTH) has created fresh momentum in the project.

French firm CMA CGM has agreed to take part in a consortium that will bid for the stake through its Terminal Link subsidiary.

It will join forces with the consortium's main stakeholder, Deutsche Invest Equity Partners, and Russian-Greek investor Ivan Savvidis's group.

Also expected to submit binding bids by the March 24 deadline are Dubai Ports World, Mitsui & Co Ltd from Japan, and Philippines-based International Container Terminal Services.