Train­ose sale to hap­pen next week

Kathimerini English - - Focus - VANGELIS MANDRAVELIS

Next week­will likely see the con­clu­sion of the sale of rail­way ser­vice op­er­a­tor Train­ose, while the con­tract for the sale of 67 per­cent of Thes­sa­loniki Port Author­ity (OLTH) has been put off un­til Septem­ber.

State sell-off fund TAIPED is said to have re­ceived a few days ago a re­sponse from Train­ose’s prospec­tive buyer, Fer­rovie dello Stato Ital­iane, on the fi­nal touches to the trans­ac­tion con­tract, in­clud­ing a pro­vi­sion that the pub­lic ser­vice sub­sidy will not ex­ceed 50 mil­lion eu­ros per year in­clud­ing val­ueadded tax.

Once the min­is­te­rial de­ci­sion on that de­tail is pub­lished on the Gov­ern­ment Gazette – prob­a­bly in the next few days – Fer­rovie will pay the price of 45 mil­lion eu­ros to TAIPED and ac­quire Train­ose.

OLTH’s case will have to wait, though, as the State Au­dit Coun­cil is un­likely to com­plete its ex­am­i­na­tion of the con­ces­sion con­tract within the sum­mer. This should hap­pen in Septem­ber, so that the sale and pur­chase agree­ment can be signed.

Even then the deal will need the ap­proval by the com­pe­tent au­thor­i­ties, as it will re­quire the green light from the Com­pe­ti­tion Com­mis­sion and the con­tract will need to get the Par­lia­ment’s rat­i­fi­ca­tion, ex­pected by Novem­ber. There­fore TAIPED ex­pects the price of 232 mil­lion eu­ros to be paid by year-end.

The Mo­di­ano Mar­ket in the north­ern port of Thes­sa­loniki has been given a sec­ond chance to make its mark in the city’s his­toric and com­mer­cial cen­ter, as state sell-off fund TAIPED yes­ter­day com­pleted the sale of a 43.63 per­cent share in the prop­erty to One Out­let SA, of Sammi Fais and No­tos Com.

Fer­rovie, the Ital­ian buyer, is said to have agreed with the draft con­tract for the sale of Train­ose.

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