The Hellenic Republic Asset Development Fund (HRADF; Greek: Ταμείο Αξιοποίησης Ιδιωτικής Περιουσίας του Δημοσίου, ΤΑΙΠΕΔ) is a Greek state-owned asset management company that controls a number of state owned enterprises. It is a direct subsidiary of the Hellenic Corporation of Assets and Participations. HRADF exploits the assets of Greece that have been assigned to it and manages the implementation of the privatization program in Greece, specifically, the implementation of the Asset Development Plan (ADP).
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Hellenic Republic Asset Development Fund in the context of Port of Thessaloniki
The Port of Thessaloniki (Greek: Λιμάνι της Θεσσαλονίκης) is the main maritime gateway to Southeast, Central and Eastern Europe, strategically located in Northern Greece close to the major Trans-European motorway (inter alia Via Carpathia) and railway networks with direct access to the Southeastern European countries. ThPA S.A., listed on the Athens Stock Exchange since 2001, handles containers, conventional cargo, operates the free zone of the Port in accordance with tax and customs legislation currently in force authorized with AEO License, offers intermodal rail services and serves passenger traffic through cruise and ferry.
Following the privatization process, 67% of the Company’s (ThPA S.A.) share capital was transferred to South Europe Gateway Thessaloniki (SEGT) Ltd on March 23, 2018. SEGT Ltd. consisted then of "Deutsche Invest Equity Partners GmbH" (owning directly 47%), "Terminal Link SAS" (owning directly 33%) and "Belterra Investments Ltd." (owning directly 20%). The Greek State, via HRADF, retains since privatization a stake of 7.27% of ThPA S.A. and the remaining 25.73% is free float. On June 4, 2021, the shareholding structure of SEGT Ltd. was changed since shareholder “Belterra Investments Ltd.” purchased the entire share of "Deutsche Invest Equity Partners GmbH", therefore owning directly 67% and consequently becoming the controlling shareholder of SEGT Ltd. On 7 December 2021 Belterra, with beneficial owner Mr. Niko Savvidi, purchased a 299,855 shares of ThPA S.A.