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The Interministerial Committee for Asset Restructuring and Privatisations (ICARP) has decided to proceed with the selection of privatization advisors in order to expedite the public real estate and asset privatisations programme. 

According to a Finance Ministry announcement, the ICARP took the following decisions:

Hellenic Football Prognostics Organisation (OPAP): For the extension of the duration of the existing concession contract between the HR and OPAP as well as the further privatisation of the company, Deutsche Bank and National Bank of Greece have been selected as HR’s financial advisors.

State Lottery Tickets: For the privatisation of a newly established special purpose company in which the HR has decided to assign its rights in the state lottery tickets, Credit Suisse and EFG Eurobank Equities have been selected as HR’s financial advisors.

Hellenic Horse Racing Company (ODIE): The HR has selected Credit Agricole and Emporiki Bank as its financial advisors for the privatisation of ODIE through the sale of its holding.

Hellenic Vehicle Industry S.A. (ELBO): The HR has selected Societe Generale - Geniki Finance as its financial advisors for the privatisation of ELBO through the sale of its holding.

Hellenic Motorways S.A.: The HR will proceed to the sale of its participation in the Hellenic Motorways Co or in its subsidiaries which will hold rights on the concessions with Aegean Motorway SA, Nea Odos SA, Kentriki Odos S.A., Olympia Odos S.A., Moreas S.A., Attiki Odos S.A. and Gefyra S.A., as well as any other rights which may derive from future concessions that the HR may decide to implement in road transport infrastructure, including Egnatia Odos Motorway. For that purpose Ernst & Young, Rothschild & Sons LTD and Barclays Bank PLC have been selected to act as HR’s financial advisors.

Natural Gas Storage “South Kavala”: For the privatisation of a newly established special purpose company in which the HR has decided to assign its rights in the Natural Gas Storage “South Kavala”, HSBC Bank PLC and EFG Eurobank Equities SA have been selected as HR’s financial advisors.
Frequency Spectrum: The HR has selected Analysys Mason Limited and Aegis Systems LTD as its technical advisors for the exploitation of its rights in the frequency spectrum

Real Estate Assets:  It has been decided that selected real estate property rights of the Hellenic Republic will be incorporated in a number of special purpose vehicles through which the government shall explore the best available investment options.

The project involves the establishment of a full registry of the state-owned real estate assets, together with a legal and financial due diligence report for these assets, as required for the HR to proceed in the needed legislative and administrative initiatives so as to establish mature and ready for privatisation investment portfolios.

For this purpose, the National Bank of Greece, EFG Eurobank, Piraeus Bank, Alpha Bank, Emporiki Bank, Investment Bank of Greece, Hellenic Post Bank, Agricultural Bank of Greece and Attica Bank have been selected to act as financial advisors of the Hellenic Republic.

Moreover, it should be mentioned that the following privatisation projects are already in full progress:

Hellinikon S.A.: The HR has decided to proceed with the development of the area of the former Hellinikon Airport using privatisation and fast-track investment procedures. For that purpose the HR has selected Citigroup and Piraeus Bank as its financial advisors and arcelona Strategical Urban Systems, AIE as its technical advisor.

4 Airbus Aircrafts: The tender process for the sale of 4 Airbus A340 is in progress. Lazard is acting as HR’s financial advisor.
Hellenic Railways (OSE Group and TRAINOSE S.A.): The full implementation of the restructuring program for OSE Group and TRAINOSE is currently underway. PWC is acting as HR’s financial advisor.

Public Gas Corporation (DEPA): The HR has appointed UBS, Rothschild and Alpha Bank as financial advisors for the process of privatizing the company by selling part of its share capital to private investors.

Hellenic Defence Systems (EAS):. For the possible sale of HR’s participation to a strategic investor, the HR has appointed KPMG as its financial advisor.

Loan and Consignment Fund: Lazard is acting as HR’s financial advisor for the unbundling of the commercial activities of the Loan and Consignment Fund and the identification of the best available options for their exploitation.

Athens International Airport (AIA): BNP Paribas and National Bank of Greece are acting as HR’s financial advisors for the extension of the concession agreement in AIA and the assessment of the best available options for the privatization its stake.
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