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On August 10, 2016, Cosco, the Chinese shipping company, completed the acquisition of a 51% stake in Piraeus port. According to the deal, Cosco will pay €280.5 million ($317 million) to HRADF for a 51% stake, and further €88 million ($99 million) within five years for the remaining 16% (a 67% total holding), provided it meets certain investment requirements.

Write Cosco not COSCO.