Thursday , June 13 2024
Home / News / Economy / Greece takes “immediate action” for the sale of 30% stake of Athens International Airport

Greece takes “immediate action” for the sale of 30% stake of Athens International Airport

The Greek Government Council on Economic Police has decided on Wednesday to take immediate action for the sale of a 30% stake in the Athens International Airport “Elfetherios Venizelos.”

The stake is owned by the privatization fund the Hellenic Republic Asset Development Fund (HRADF).

Instructions were given to the HRADF to immediately continue a process asking for the submission of offers for the airport, which had begun on June 28, following the commitment of the previous government towards the country’s lenders and the obligations of the third bailout agreement.

The deadline for the specific tender was originally to end on September 30. According to media, an extension until October 29 was given on Thursday.

One of the obstacles, according to the sources, was a term requiring that the Greek State hold two positions on the airport’s board following the sale of the 30% stake, one of which must be the board chairman.

By signing a “waiver agreement,” it is stipulated that the State will hold two posts on the new board, one of which will be the one of the chairman.

According to media reports, as certain biders are considered the AviAlliance, which is controlled by the Canadian PSP group (it controls 40% of Eleftherios Venizelos’ share capital), and the Kopelouzos Group (it holds 5% at the airport).

The Greek State has no direct participation in the share capital of Athens International Airport, but only indirectly: 30% through HRIP and 25% through the super privatization fund.

“It is our ideological and policy position, as we constantly stress, to view privatizations are a developmental tool for the economy, provided that these are carried out on terms of full transparency and with the public interest as the guideline, and not just as a means to raise public revenues,” Finance Minister Christos Staikouras stated after the Council meeting.

Check Also

Passengers traffic in Athens International Airport up 18.5% in May

Athens International Airport recorded an increase of 18.5% in passengers traffic in in May 2024 …