Express recruitments for privatization consultants

Since yesterday, the government and the Troika have been engaged in seeking measures of immediate return to cover 7 billion for this year, with the emphasis on privatization and a combination of active cuts and additional taxes, according to the commands of the Eurozone.

In their meetings today with the leadership of the Finance ministry, the negotiators of the lenders will essentially dictate the terms under which they will the release the fifth installment of the loan and the additional financial aid for 2012-2013.

Speaking from Brussels yesterday, Olli Rehn and Jean-Claude Juncker gave the signal, stressing that Greece has obviously not fulfilled the terms lately, that the debt is getting quite threatening and that the issue of privatization will be the most sensitive point from now on.

To show that it is doing its best, the Finance ministry will announce the recruitment of about 10 consultants to implement privatizations. But this start comes a year late and seems futile, as Commissioner Rehn has now moved the collection of the first 15 billion from privatizations to December 2012 at the latest rather than the end of 2013, which was the initial target.

The consultants for PPC, Elliniko, ODIE, OPAP and State Lotteries will be at the top of the list. They are expected to be immediately followed by the consultants for the use of public property and the regional airports.

The procedures for the sale of OTE, 31% of DEPA, TRAINOSE and LARCO will commence in the next few days.

Regarding DEPA, there is a study on whether it is best to secede DESFA and what will happen with the option of PPC. The study is expected to be ready very soon and the call for the sale competition will be held in 2011.

The list of consultants will be completed by hiring BNP Paribas and National Bank as financial consultants, as well as hiring the Bernitsas Law Firm as legal consultants, to extend the duration of the concession contract of Athens International Airport SA.

It has also been decided to recruit financial advisors (CitiGroup and Bank of Piraeus), a special financial advisor (LAMDA Financial Advisors), a legal consultant (Zemperis, Markezinis, Lambrou and Associates Law Firm) and a technical advisor (Barcelona Strategical Urban Systems AIE) for the utilisation of the site of ​​the former Elliniko airport, and the hiring of legal counsel from abroad.

There is also the recruitment of a financial advisor (Lazard & Co Ltd) and a legal consultant (Kallimopoulos, Loukopoulos and Chiotellis Law Firm) for the separation of the Deposits and Loans Fund activities and the investiagtion into the possibilities of its business activity.

The remaining consultants (e.g. for undersea storage of natural gas, for public real estate etc.) will have to be recruited by the end of the second quarter of 2011.

The government property consultants will present an initial record this June, which will be updated every six months. At the same time, they will proceed with the preparation of the financial tools for the value assessment ​​of real estate.