On 5/3/2014 HRADF issued an international tender process for the sale of 67% of the shares of OLP, the company which has the right to operate the Port of Piraeus until 2052.

Following the successful completion of the tender process, on 8/4/2016 a Share Purchase Agreement was signed with Cosco (Hong Kong) Group Limited for the transfer of 67% of the shares in two stages.

In the first stage, on 10/8/2016, 51% of the shares were transferred against payment of €280.5 million while the remaining 16% of the shares and their corresponding consideration of €88 million were placed on escrow.

The second stage which relates to the transfer of the remaining 16% of the shares will be concluded five years later, following the completion of the mandatory capital expenditure program of €300 million.

Following the transfer of the remaining percentage, HRADF will hold 7% of the shares.

Financial Advisors: Morgan Stanley and Piraeus Bank

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