"Come one, come all" - Express delivery guaranteed

The government has announced it is forming a Public Property Fund, which will undertake to sell anything that the state is willing to privatize. The hiring of a special secretary who will be in charge of these proceedings has been announced today in opengov.gr (visit http://www.opengov.gr/home/?p=2739) , indicating the purpose and timeline for application submission.

Both government spokesman George Petalotis and Finance Minister George Papakonstantinou presented their decisions on the “express” privatizations, with the ultimate goal of collecting nearly 7 billion needed this year, in addition to another 22 billion by 2015.

Mr. Petalotis also spoke of an effort to reduce staff and state salary expenditure.

The process of privatization of OTE, TT, PPA, THPA and EYATH is beginning immediately.
The process of hiring consultants is currently underway for OPAP, DEPA, EAS, Eleftherios Venizelos, Deposits and Loans Fund, gambling permits, Horse Racing, EVO, Kavala’s natural resources and highways.

By the end of June, advisors will also be hired for the PPC, Casino, regional ports and airpots.

The Privatization process

The Ministry of Finance is publishing invitations to tender for all those interested in the process of selecting financial advisors with the goal of the promotion of the privatization program, in connection with the following assets:

Hellenic Telecommunications Organization (OTE): Exercise a put option for a 10% stake in OTE and a consideration of a further 6%.

Public Power Corporation (DEI/PPC): Sale of PPC shares or assets to a strategic investor through the ASE

PostBank (TT): Sale of 34% of the TT share capital and consideration of selling an additional 10% of the Greek Post Office through the ASE, including the entry of a strategic investor.

Water and Sewerage Company (EYDAP): Sale of shares through the ASE, including the entry of a strategic investor.

Water and Sewerage Company of Thessaloniki (EYATH): Sale of shares by the EYATH through the ASE and the entry of a strategic investor.

Piraeus Port Authority (PPA) and Attica Ports: Sale of shares of OLP/PPA through the ASE, a merger of regional ports and an entry of strategic investors.

Thessaloniki Port Authority (THPA) and main regional ports: Selling part of OLTH/THPA through the ASE and a merger of regional ports, as well as the entry of a strategic investor.