Pri­va­ti­za­tion of Elliniko gets mov­ing

Kathimerini English - - Front Page - VAN­GE­LIS MANDRAVELIS

State pri­va­ti­za­tion fund TAIPED yes­ter­day ap­proved the text of the con­tract for the 100 per­cent sale of the spe­cial pur­pose com­pany that will op­er­ate the old Athens air­port plot at Elliniko, with the aim of reach­ing an agree­ment for the uti­liza­tion of the plot within the first quar­ter of the year.

The draft con­tract will be de­liv­ered to the three short-listed in­vestors, El­bit, Lamda De­vel­op­ment and Lon­don & Re­gional Prop­er­ties, in the next few days. They will have a few weeks to re­spond by sub­mit­ting a bind­ing of­fer for the en­tirety of the shares of Elliniko SA, likely to be by end-Fe­bru­ary or early March.

While the val­u­a­tion of the of­fers will not take long, based on pass/fail cri­te­ria and with the price of­fered be­ing the ul­ti­mate de­cider, the com­ple­tion of the agree­ment with the pay­ment of the price and the trans­fer of the shares to the pre­ferred bid­der will take much longer, with some ob­servers say­ing it could take up to two years. Given the prece­dent of the In­ter­na­tional Broad­cast­ing Center (IBC), for which the is­su­ing of the de­vel­op­ment plan took more than one year, it is cer­tain that the equiv­a­lent pres­i­den­tial de­cree will take even longer.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.