Greece announces privatisation plans

Greece announces privatisation plans :The Greek government announced a wide ranging privatization programme, spanning rail and road transport, airports and ports, utilities, gaming and public real estate holdings. The program is aimed at leveraging private investment to help restructure the Greek economy, safeguard the public interest, and contribute to the ongoing fiscal consolidation effort.

The measures include outright sales to strategic investors, initial public offerings, new and extended public-private partnerships and the creation of private holding companies intended for eventual listing on the Athens Stock Exchange.

The privatization efforts will leave the government with shareholdings ranging from minority stakes of less than 34%, to controlling stakes of 51% or more. In some case the government will divest fully from its holdings.

Under the measures announced, the Greek government will:

1. Restructure or close down loss-making lines and sell 49% of state railway operator OSE.

2. Sell 39 % of Hellenic Post (ELTA), 23% of Thessaloniki Water utility EYATH, and 10% of Athens Water and Sewage utility EYDAP, leaving the government will a 51% controlling stake in the aforementioned companies.

3. Fully privatize casinos.

4. Develop through concessions and float its stakes in airports, ports and the country’s public real estate assets through newly created holding companies.

5. Extend its highly successful public-private partnerships to concessions for new infrastructure projects e.g. freight centers in Thessaloniki and Thriaso as well as the construction and operation of new highways.

6. Regulate and develop the gaming and internet betting industry by issuing new licenses and extending existing ones.

Greece announces privatisation plans

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