April 30, 2015
Greece will proceed with the sale of stakes in strategic assets such as the port of Piraeus and 14 regional airports this year, according to Greek officials with direct knowledge of the matter.
The Hellenic Republic Asset Development Fund, which sells real estate, infrastructure and other government holdings, will send on Wednesday a revised tender offer to investors, including China Cosco Holding Co, to solicit bids for a stake in the Piraeus Port Authority SA, according to the people who asked not to be identified because the information isn’t public.
The fund is satisfied with an offer of 1.2 billion euros ($1.4 billion) for the lease of 14 regional airports in Greece from Germany’s Fraport AG, and expects to conclude the sale within a month, the people said.
The decision to sell the stakes suggests that Left-wing Syriza government is abandoning an earlier pledge to its electorate to block such privatizations amid efforts to secure further funding from international creditors as part of a 240 billion euro bailout.