PWC: Privatizations in Greece after 2011 valued at 3.4 bln€

3 February 2017
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A report this week by PWC calculates revenue from privatizations in Greece, between 2011 to 2016, at a paltry 3.4 billion euros, with the best years being 2011 (1.16 billion euros) and 2013 (1.04 billion).

The figure is a far cry from a target once uttered by creditors’ representatives, then unofficially known as the “Troika”, in February 2011, when 50 billion euros had been announced during a very high-profile press conference in Athens.
The highlights for 2016 were the signing of a contract to transfer 51 percent of the Piraeus Port Authority (OLP) to Chinese multinational Cosco for 281 million euros.

The privatization of the Astir Pallas resort southeast of Athens was finalized in October 2016. National Bank of Greece and the privatization fund (TAIPED or HRADF sold their shares to Apollo Investments, a wholly owned subsidiary of Jeremyn Street Real Estate Fund, for 393 million euros.

Lesser real estate sales, with the most prominent being a coastal tract of land on the island of Corfu (Kassiopi), and duties from various frequencies (digital, radio-television, mobile telephony) completed the picture.

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