Reports: Privatization fund eyes 580mln€ lump sum payment for Athens int’l airport contract extension

23 January 2017
598 Views

Reports in Athens at the beginning of the week purport that Greece’s privatization fund (TAIPED or HRADF) wants a lump sum payment of 580 million euros in order to extend the concession contract for the Athens International Airport, as well as a percentage of the annual pre-tax profits.

The last time negotiations over the contract took place, over 2011 and 2012, the administration of the privatization fund at the time put its demand at 220 million, with the concession holder, Germany’s Hochtief offering no more than 180 million euros.

Additionally, finance ministry officials calculate that an extension of the contract for the airport, officially named the Eleftherios Venizelos International Airport of Athens, will increase the value of the stake still held by the state, and therefore generate more revenue for state coffers in case the shares are sold off. Talks over an extension refer to a date of 2046.

The Greek state holds 55 percent of the airport’s shares, of which 30 percent are controlled by the privatization fund. Two holding companies controlled by Canadian pension fund PSP Investments together hold 40 percent of the shares, while the Copelouzos family holds the remaining 5 percent.

You may be interested

Infectious Disease Committee ‘green light’ re-opening of high schools on February 1st – The measures from January 25th
GREECE
shares39 views
GREECE
shares39 views

Infectious Disease Committee ‘green light’ re-opening of high schools on February 1st – The measures from January 25th

makis - Jan 22, 2021

The experts of the Committee of the Ministry of Health gave the “green light” on Friday for the opening of…

EU teleconference Summit: Concerns over Covid-19 mutations and delay in vaccines
GREECE
shares25 views
GREECE
shares25 views

EU teleconference Summit: Concerns over Covid-19 mutations and delay in vaccines

makis - Jan 22, 2021

PM Mitsotakis’ proposal for a European vaccination certificate, which would facilitate travel without the need for a coronavirus test for…

Crete is the most popular holiday destination for Brits
GREECE
shares43 views
GREECE
shares43 views

Crete is the most popular holiday destination for Brits

Panos - Jan 21, 2021

Crete is the most popular holiday destination for this year’s tourist season for the Brits, according to online searches made in…

Leave a Comment

Your email address will not be published.