Amend­ment for split­ting of EAS is tabled

Kathimerini English - - Front Page -

The gov­ern­ment tabled a law amend­ment in Par­lia­ment yes­ter­day that im­ple­ments the re­struc­tur­ing plan for Hel­lenic De­fense Sys­tems (EAS), one of the prior ac­tions Athens must ful­fill in or­der to get its next bailout in­stall­ment.

The amend­ment pro­vides the terms for the abo­li­tion, merg­ing or split­ting of com­pa­nies, and for the ex­trac­tion of as­sets from them to be given to other com­pa­nies. This is the frame­work re­quired for EAS, which will be split into two new com­pa­nies.

One of those com­pa­nies will have the ex­clu­sive pur­pose of pro­duc­ing and sell­ing arms, am­mu­ni­tion and de­fense ma­te­ri­als, while EAS as­sets will be passed on to the two com­pa­nies with­out the need for an ad­min­is­tra­tive act or prop­erty trans­fer tax pay­ment. Both com­pa­nies will be able to en­ter the res­o­lu­tion pro­ce­dure pro­vided for state cor­po­ra­tions re­gard­less of whether the con­di­tions needed for that pur­pose in other cases are ful­filled.

The same amend­ment dic­tates the grant­ing of 10 mil­lion eu­ros to EAS from the state bud­get for the pe­riod be­fore the com­ple­tion of its split, while for the pe­riod af­ter it has split into two, the fund­ing will be in­creased by 25 mil­lion eu­ros.

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