Greece will this year complete the sale of its outstanding stakes in five banks bailed out during last decade’s debt crisis and raise record revenues from state asset sales, Finance Minister Kostis Hatzidakis told Reuters on Wednesday. After years of relative stability, investors have come back. The state recently sold …
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UK’s Currys to sell its Greek retail arm Kotsovolos
UK’s electrical retailer Currys could offer up its Greek electronics retail arm Kotsovolos to potential buyers, with the FTSE 250 firm announcing a strategic review of the businesses. Kotsovolos is one of the leading electrical and electronics retailers in Greece, it has a network of over 90 stores including an …
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US Congressmen open way to sale of F-35 to Greece
The last of four signatures by leading US Congressmen in foreign relations committees at the Senate and House of Representatives opened the way on Thursday towards the proposed sale of advanced F-35 fighter jets to Greece. According to procedure, the US State Department approached the relevant foreign relations committees to …
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US opens way for the sale of F-35 fighter jets to Greece
The green light for the sale of F-35 fighter jets to Greece has been given by the chairman of the US Senate Foreign Relations Committee, Robert Menendez, as he announced at the Delphi Economic Forum in Washington. The committee’s Republican vice chairman, Jim Reese, as well as the chairman and …
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Greece to ban sale of spyware amid wiretapping scandal
Greece will soon ban the sale of spyware, the government said on Monday, after a newspaper report that more than 30 people, including ministers and business people, had been under state surveillance via phone malware. A list of persons whose phones were allegedly infected with the Predator malware was published …
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U.S. House backs measure that would restrict sale of F-16s to Turkey
The U.S. House of Representatives on Thursday approved legislation that would create a new hurdle for President Joe Biden’s plan to sell F-16 fighter jets to Turkey. The House approved the measure, offered by Democratic Representatives Frank Pallone and Chris Pappas, as an amendment to the annual National Defense Authorization …
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Villa of War of Independence hero Miaoulis for sale for €4.5million
A legendary villa with historical significance is for sale by Sotheby’s real estate. Constructed in 1808 by Venetian architects it was the residence of famous Admiral Andreas Miaoulis,one of the most important men of the War of Independence against the Ottoman Empire. Loaded with history, architecture and decoration that combines …
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Savvidis sells SEKAP and Donskoy Tabak to Japan Tobacco for $1.6 billion
SEKAP, the Greek Cooperative Tobacco Industry that was owned by Donskoy Tabak since 2013, will pass to Japanese ownership as part of a larger package deal worth around 1.6 billion dollars that was signed on Friday. Japan Tobacco Inc. (JT) announced that the Group’s purchase of Russian-based Donskoy Tabac, part …
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Court opens way for restructuring and sale of Skaramangas shipyards
A decision by an Athens first-instance court that approved the appointment of a special administrator for the Skaramangas shipyards paved the way for the restructuring of the company, economy ministry officials said on Thursday. The officials said that the ministry, and Deputy Economy Minister Stergios Pitsiorlas in particular, won a …
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Greece opened tender for 5% sale of telecom giant OTE
The Hellenic Privatization Fund (HRADF) announced an international tender for the sale of 24.5 million ordinary shares by telecom giant OTE, which represent 5% of the company’s capital. Athens expects bids from interested investors by March 15, 2018, it is clear from a news release on the Fund’s website. The …
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Fifteen investors interested in acquiring PPC lignite-fired power plants
The market test for the sale of the Public Power Corporation’s (PPC) lignite fired power plants has been completed “with absolute success,” the environment and energy ministry announced on Sunday. Fifteen investors expressed interest in acquiring at least one of the plants up for sale (in Florina and Megalopolis), the …
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Trump says US mulls potential F-16 sale to Greece worth $2.4bn
U.S President Donald Trump said on Tuesday that his administration has informed Congress of a potential sale to upgrade the F-16 aircraft in Greece’s Air Force, a deal could be worth $2.4 billion. The U.S. State Department approved the possible sale on Monday. Trump spoke of the potential sale following …
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Eurobank to sell €1.5bln bad loans to Swedish hedge fund Intrum
Eurobank , Greece’s third largest lender, said it will sell a 1.5 billion euro pool of non-performing loans to Sweden’s Intrum, as part of efforts to reduce its load of sour debt and meet targets agreed with regulators. Greek banks are burdened by soured loans clogging up their balance sheets …
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Greece announces “Return to Bond Markets”, aims to raise €4.03billion
The much anticipated return to the bond markets is on. Greece’s government is returning to the financial markets for the first time since 2014. The bond sale started at 1 p.m. Monday noon July 24th. 2017. The government aims to raise some 4.03 billion euros from the auction, while the …
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Lenders press Greece to sell 40% of PPC lignite units and energy producing plants
Greek Interior Minister – an Energy minister in first SYRIZA government – Panos Skourletis accused on Monday international lenders of reneging on a 2015 bailout deal by trying to force a fire-sale of its main electricity utility Public Power Corporation (PPC/DEH) to serve “domestic and foreign business interests.” Later, a …
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Greece’s PPC to sell a market share together with 400,000 customers
Greece’s Public Power Company (PPC/DEH) is selling a part of its share together with 400,000 of its customers. Manolis Panagiotakis, the CEO of PPC, announced this innovative step during the Economist conference in Athens. PPC will establish a subsidiary company that will be available for sale to private electricity suppliers …
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National Bank of Greece considers sale of 100% of Finansbank but not before ‘stress tests’ results
Greece’s biggest bank National Bank is considering options to meet any potential capital shortfall after a stress test later this year but has not finalised plans, which include options for majority-owned Finansbank in Turkey, a source at the bank told Reuters on Monday. Greek press reported on Monday that NBG …
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PPC rolling strikes: Power cuts schedule announced; islands exempted, for far
Power cuts are expected it various areas of Greece and at various times as unionists of Public Power Company (DEH) launched their strike and switched off 13 electricity producing units. According to DEH and DEDHE (Power Distribution System) there will be power cuts of “maximum one hour” during daytime in …
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Gov’t threatens PPC-unionists with ‘mobilization’ should they cause “black out”
Greek government is determined to prohibit black outs as the unionist of Greek Public Power Company threaten to turn off the electricity, if the government proceeds with the sale of 30% of PPC to private investors. The unionists claim that the sale of so-called “little DEH” will alternate the ‘public …
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Greek Sale: “Athens Riviera” transferred to Privatization Agency
Thousands of hectares across the “Athens Riviera”, the Attica coast line from Cape Sounion in the East to Marina Zeas in the West have been transferred to the Hellenic Republic Asset Development Fund – Greek Privatization Agency (TAIPED) on Tuesday.The transfer of the Attica coastline to TAIPED was signed by …
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