2024-03-06 04:25:05
The government is stepping up its pace for the sale of public property. Under the suffocating pressure of the troika of our creditors and the powerful of Europe to sell off the state “silver” with summary procedures, the interministerial committee on privatizations proceeded yesterday to appoint the privatization consultants for fillet companies, among which is OPAP, Hippodrome (ODIE), the Hellenic Vehicle Industry (ELVO) and the Hellenic Motorways. It should be noted that yesterday’s decision is not unrelated to what was demanded the day before yesterday by the European Commissioner for Economic Affairs Olli Rehn, who in an interview in Brussels said that Greece should secure revenues of 15 billion euros from privatizations by the end of 2011. In particular, the inter-ministerial committee decided for each state-owned company the following:
– For OPAP, the government’s intention is to extend the company’s contract with the State and to investigate the possibility of selling its participation in the organization. It is noted that the State owns 34.7% of OPAP. Deutsche Bank AG London Branch and National Bank of Greece S.A. were selected as consultants for the privatization.
– For the State Lotteries, the formation of a company to which the rights of the State will be transferred is foreseen. The participation of the State in the company will also be “utilized”. The possibility of selling or securitizing future income is being considered. Credit Suisse and Eurobank EFG Equities were selected as advisors.
– In ODIE, the possibility of selling the entire participation of the State (100%) will be investigated. Emporiki Bank and Credit Agricole were selected as consultants.
– For ELVO, the government’s plan provides for the sale of the entire company to a private individual. Today the State owns 51% of the company. Societe Generale – Geniki Finance SA was chosen as the consultant for the privatization
– For the sale of the State’s rights on the highways (MOREAS S.A., NEA ODOS S.A., OLYMPIA ODOS S.A., AEGEAN HIGHWAYS S.A., KENTRIKI ODOS S.A., GEFYRA S.A. E. and ATTIKI ODOS SA) the consultants Ernst & Young, Rothschild & Sons LTD and Barclays Bank PLC were selected. Consultants were also selected for the sale of the State’s rights to the “South Kavala” natural gas field and the frequency spectrum. Regarding the exploitation of State properties, one or more companies will be established to which the rights to State properties will be transferred. Afterwards, their number, ownership and legal status will be recorded and ways of utilizing them will be sought.
Spyros Dimitrelis
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