China’s State Grid International Development offered the highest bid amounting to 320 million euros ($352 million) for the acquisition of 24 percent stake in Greece’s power grid operator ADMIE, Greece’s public power corporation (PPC) announced on Wednesday.
The Chinese company and a consortium led by Italy’s TERNA had submitted binding offers last week.
According to a PPC press release, PPC’s board of directors will now validate the offer on Oct 31 formally declaring China’s State Grid as the Preferred Investor and in the next step PPC’s shareholder’s general assembly on Nov 24 will make the final decision.
If the Chinese made the highest bid it is quite easy to guess the winner.
A day later, Greece’s Privatization Fund HRADF announced that Apollo Investment Holdco bought 90% of the shares of Astir Palace Hotel Vouliagmeni SA for 393million euros.
The deal was signed between HRADF, Apollo Investment and National Bank that owned 67.23% of the shares.
Apollo Investment Holdco is managed by Jermyn Street Real Estate Fund IV, a fund representing investors from Turkey, Abu Dhabi, Dubai, Kuwait and other Emirates.
HRADF CEO Stergios Pitsiorlas hailed the agreement saying the “the road for Greece’s development is now open.”
It took three years for the deal to conclude.
PS If I’m not wrong the money will be deposited at the special bank account of lenders at the Bank of Greece.
All money from these dictatorships in Greece will soon get seized by a new bordello-party called N 18
This HRADF guy has a nice fat salary, an equally nice fat tax relief and another fat account in some 4th Reich bank, all paid by us. And he is so happy with his job. Executing looting on behalf of the 4th Reich pays off I am afraid. So it did for the 3rd Reich … The way forward in the professional ladder: job satisfaction and high returns!
After vested interests have acquired all the assets of Greece .. the only thing left for them to do .. is to expel the excess population of Greece .. or send them to death camps in Germany.
‘ death camps in Germany’ ???