Greek shipping investor Theodore Priovolos has been frustrated at his attempt to buy and revive his country’s biggest, most historic, but largely disused shipyard.
Stakeholders of state-owned Hellenic Shipyards — better known as Skaramangas — have rejected a €15.1m ($18.5m) bid for the yard submitted by Priovolos vehicle Pyletech Shipyards. No other candidates came forward.
The outcome is not surprising.
