Hellenic Republic Asset Development Fund

The government is determined to change the heads of the state property manager, the Hellenic Corporation of Assets and Participations (HCAP), and its subsidiary, the Hellenic Republic Asset Development Fund (TAIPED), charged with attracting foreign investors in the privatization of some of those property assets, over their handling of the privatizations and the dismal financial situation at ele

Greek investor Aktor Concessions SA was nominated as the preferred bidder to be granted the right to use and exploit Alimos Marina in southern Athens for a period of 40 years, in the context of Greece's privatization program, the Hellenic Republic Asset Development Fund (TAIPED), the country's privatization fund, announced on Tuesday.

The government tabled an amendment on Monday to the concession contract for betting on horse racing for 20 years.

The amendment, which will be voted on by the House on Tuesday, includes three main changes to the contract signed by state sell-off fund TAIPED and OPAP gaming company in 2015.

The acquisition of railway carriage maintenance company Rosco by Italian-owned railway service operator Trainose has been completed, making the Ferrovie dello Stato Italiane subsidiary the dominant player in the local market.
The 100 percent stake in Rosco sold for 22 million euros.

The fate of Alimos Marina in southern Athens will be determined by the end of April, after state asset utilization fund TAIPED unsealed on Friday the three offers by candidate investors and decided to short-list them all because the distance between the lowest and second-lowest offers was less than 15 percent.

The new, revised program for TAIPED privatizations, published on Friday, contains no references as to when the long-delayed development of the old Athens airport plot at Elliniko in southern Athens might finally start. The other major issue for the state sell-off fund is highway maintenance company Egnatia Odos SA, which is currently mired in red tape.

Privatizations will speed up in the first half of the year, although we have entered an election period and the pace is expected to slow, Aris Xenofos, who heads the TAIPED sell-off fund, told the Athens Energy Forum on Monday.

Foreign investment companies and Greek market sources are worried that the privatizations program and its anticipated revenues could go off track, as the country's de facto entry into an election period of unspecified duration, combined with the government's marginal parliamentary majority, will likely lead to a selective tabling of bills.

State privatizations fund TAIPED and rail service operator Trainose signed the contract for the sale of 100 percent of railway carriage maintenance company Rosco on Monday.

Trainose, a 100 percent subsidiary of Ferrovie dello Stato Italiane, will pay a price of 22 million euros.

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.