Belterra Investments Ltd launched a takeover offer to acquire the remaining 33% stake in Thessaloniki Port Authority Societe Anonyme (ATSE:OLTH) from Terminal Link SAS for ?88.1 million on June 30, 2021. The offer price of the transaction is ?26.5 per share. As a part of the transaction, Terminal Link SAS will transfer 3.32 million shares representing 33% stake. Belterra will finance the payment of the consideration through equity and credit lines from Attica Bank and Optima Bank. Post-closing of the acquisition, Belterra Investments will hold 100% stake in Thessaloniki Port Authority Societe Anonyme. The tender period commences from July 30, 2021 and closes on August 27, 2021. At the end of the Acceptance Period, the Offeror and the Persons acting in concert with it, hold in total Shares which represent a percentage at least 90% of the share capital and of the total voting rights of the Company, the Offeror will not exercise the squeeze out right in accordance with article 27 of the Law, as applicable, and is obliged to acquire on exchange through ATHEX all Shares offered to the Offeror within a period of three months following publication of the results of the Tender Offer against payment of the Offered Price in cash, in accordance with article 28 of the Law. The Offeror has no intention to proceed to delisting of the Shares of the Company from ATHEX. The transaction is subject to Hellenic Capital Market Commission approval. The Takeover Bid is unconditional. Alpha Bank Societe Anonyme acted as financial advisor to Belterra Investments Ltd.