The Board of Directors of the Hellenic Republic Asset Development Fund have approved the terms of the international tender process for the sale of a 67% stake of Piraeus Port Authority S.A., the company that provides port services at the port of Piraeus, Greece.

Morgan Stanley, Piraeus Bank, Marnet S.A., HPC Hamburg Port Consulting GmbH, Freshfields Bruckhaus Deringer LLP, Alexiou-Kosmopoulos Law Firm are acting as advisers to the fund in connection to the process and the transaction.

Within the context of the process, it is envisaged that the current Concession Agreement under which Piraeus Port Authority S.A. operates will be renegotiated, and potentially amended.

Interested parties must submit their expressions of interest on or before 28 April 2014.

Piraeus Port Authority S.A., which was founded in 1930, offers ships' anchoring, cargo handling, loading and unloading, goods storage, and car stevedoring services, as well as harbor to ships. It is also involved in the development of combined transportation operations, provision of services related to combined transportation, and organization, development, management, and marketing of ship repair.