Hellenic Corporation

Greek state corporations will not attract investor interest unless they improve their competitiveness and corporate governance, the head of Greece's state asset management company said at a forum in Athens on Tuesday.

Museums and archaeological sites are expected to be closed on Thursday as Culture Ministry staff have called a 24-hour strike, protesting reports that monuments are to be included in Greece's privatization fund, the Hellenic Corporation of Assets and Participations (EESP). 

Greece's state assets fund appointed Polychronis Griveas and Elias Athanasiou as the new president and CEO, respectively, of troubled state-owned Hellenic Post (ELTA), during Thursday's general meeting.

Griveas previously headed the management of Astir Palace Vouliagmeni and Athanasiou was CEO of Enterprise Greece, the state-owned body that promotes Greek exports.

Greece's state assets fund has called for the resignation of the president and CEO of troubled state-owned Hellenic Post (ELTA) after the postal service reportedly incurred debts of more than 557 million euros in 2017.

The efforts of the government and the privatizations hyperfund to streamline the salaries of heads of public sector companies (DEKO) were doomed to failure from the very start.

Greece is poised to renew the term of the chief executive of its biggest power utility Public Power Corp (PPC) for another three years after no other candidates came forward.

Manolis Panagiotakis has been CEO of PPC since 2015 and his term, which ended in April, has been extended until a shareholders meeting due to take place on Thursday.

The strategic plan of the Hellenic Corporation of Assets and Participations (EESYP) shifts its emphasis to the utilization of the state's real estate assets and to the holdings in state corporations recently conceded to EESYP, the so-called "privatizations hyperfund."

The Greek state is reclaiming its majority stakes in the Athens and Thessaloniki water companies, as the government has revoked the decision by the ministerial committee for privatizations handing its shares to sell-off fund TAIPED.

The Hellenic Corporation of Assets and Participations (EESYP) will demand that the 15 state corporations which have just passed under its control submit their business plans by April, while it is preparing to complete the first stage of assessing their administration by June.

The operation of the new Public Holdings Company (EDIS), the subsidiary of state assets hyperfund EESYP which is supposed to directly control all state corporations until they are sold through the hyperfund, is far from certain, even though its creation was provided by law when EESYP was established.