Hellenic Holdings

The Public Holdings Company (EDIS), a subsidiary of the Hellenic Holdings and Properties Company SA (the new hyperfund for state asset utilization), will receive the country's small regional airports and regional ports, the inner cabinet decided on Monday. However, no decision was reached on any major issues as the ministers will meet again once Public Power Corporation's fate is decided.

The government is keen to keep a tight grip on state corporations, which is why the transfer of such companies to the new hyperfund for state asset utilization, officially titled Hellenic Holdings and Properties Company SA, has been allowed to drag on. The transfers are a part of the framework of the second review of the third Greek bailout program.

The government will have to proclaim a tender for the sale of 30 percent of Athens International Airport by March, according to the draft supplementary memorandum of understanding that the creditors have submitted to Athens to close the second bailout review.

Araxos and Kalamata are the only two out of the 23 small airports around the country that appear likely to attract investor interest, as the vast majority of them seem to be of very little commercial vale, according to the valuation commissioned by state privatization fund TAIPED that was presented on Friday.

The supervisory council of the Hellenic Holdings and Property Company (EESP) provided a solution to the administrative crisis at state sell-off fund TAIPED by selecting the fund's chief executive officer Antonis Leousis as its new president, so that he holds both positions.