Athens (TAN): The Economic Policy Council of Greece (KYSOIP) has decided to sell the 30% stake currently held by public assets development fund TAIPED in Athens International Airport (AIA), Finance Minister Christos Staikouras announced, GTP reported.
TAIPED had invited expressions of interest for the acquisition earlier this year. The deadline has been revised and extended from September 30 to October 29. Canada’s PSP Investments/AviAlliance GmbH and Greek group Copelouzos who already have 40% and 5% shares in AIA respectively has expressed their interest. AIA’s group of shareholders also includes the Greek state with a 25% stake.
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“Today we are implementing one more commitment we have made. We view privatizations as a development tool of the economy, provided these are carried out in conditions of total transparency and in the public interest. And not just as a means of raising public revenue,” said Staikouras.
After the sale is done, the Greek state with a 25% share will hold two seats on the board including that of the chairman’s.
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Earlier this year, the council approved the 20-year extension of AIA’s concession agreement. AIA SA rendered a total of EUR 1.1 billion (USD 1.22 billion) to TAIPED for the 20-year extension to 2046.
