Greek MOU Foresees Rapid Sale of Ports

BERLIN, Aug 12 (Reuters) – Greece will transfer quickly to privatise its ports, regional airports and its energy grid operator beneath a memorandum of understanding (MOU) agreed with its worldwide lenders.

According to the 29-page MOU, a duplicate of which was obtained by Reuters, Greek privatisation proceeds, excluding financial institution shares, are anticipated to complete 6.4 billion euros between 2015 and 2017.

The MOU lists a variety of measures that the Greek authorities should implement so as to receive a brand new three-year bailout programme that’s anticipated to complete roughly 85 billion euros.

Under the settlement, Athens has dedicated to take “irreversible steps” by October 2015 to privatise grid operator ADMIE except an alternate scheme providing equal outcomes is introduced.

Binding bid dates for Piraeus and Thessaloniki ports should be introduced by the tip of October. Greek authorities have additionally dedicated to the sale of the nation’s regional airports “at the current terms” with the profitable bidder already chosen, in accordance with the MOU.

At the tip of final yr, Germany’s Fraport was named most popular bidder in a deal to function 14 regional airports in Greece, however the transaction has stalled for the reason that left-wing authorities of Alexis Tsipras took energy in January. (Reporting by Matthias Sobolewski; Writing by Noah Barkin; Editing by Madeline Chambers)

(c) Copyright Thomson Reuters 2015.