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Hunter,
I look forward to seeing you on Friday.
We will have a casual dinner with our Euroconsultants partners on Friday night.
Michael and I identified them as our “platform” in Greece, as they are well known in corporate and government circles. The partnership has paid off immediately as they have introduced us to several projects we are pursuing, including Trainose.
Dinner will provide you an understanding of the opportunities in Greece. We can have lunch or a follow-up meeting on Saturday if it makes sense, depending on your schedule.
On Saturday night we (Michael, you and me) will have dinner with Yiorgos (“George”) Nikitiades. George is the ex-Minister of Tourism, which is Greece is like being the Secretary of Defense … tourism is the biggest and most important part of the Greek economy. George is as well-connected in political and financial circles as anyone.
Trainose is quickly turning into a Cosco deal. Since Cosco controls the port, they control the entire shipping process from China to Central Europe. Trainose only works if Cosco is a partner. Cosco only wants corporate partners and we are discussing them doing a deal with GFR (the largest private railroad in Romania) and Watco (the American short haul railroad).
The opportunity for us is the passenger part of the business. Cosco wants nothing to do with the passenger business. I have told them if they want to complete a deal with Trainose, they need to finance 100% of the purchase price of the passenger business; this is where I believe we can make money without any investment.
I am prepared to discuss this with you in detail at your convenience.
David