ThPA, Owned by Ivan Savvidis, Poised to Acquire Volos Port Authority

Greek-Russian businessman Ivan Savvidis, owner of Thessaloniki Port Authority (ThPA), is set to acquire Volos Port Authority, in a move that will strengthen his presence in northern Greece and the Balkans.

ThPA's bid of 51 million euros was nearly double the amount offered by the runner-up, Goldair Cargo SA-Goldair Handling SA joint venture.

The acquisition will allow ThPA to expand its operations in car traffic and shipbuilding, two activities that are currently underrepresented in the region. If ThPA fails to proceed with the acquisition, the 67% stake will pass to the runner-up.