ATHENS, June 1 (Reuters) – Athens Worldwide Airport shareholders have given the go forward for the sale of a 30% stake within the nation’s largest airport by privatisation company HRADF, a senior official from the company mentioned on Thursday.
State-owned HRADF, the Hellenic Republic Asset Growth Fund, has employed Financial institution of America (BAC.N), Morgan Stanley (MS.N) and Deutsche Financial institution (DBKGn.DE) to behave as advisers on the sale of its stake.
The opposite shareholders are Germany-based supervisor AviAlliance, which presently holds 40%, Greece’s sovereign wealth fund HCAP with a 25% stake and Copelouzos group, which owns 5%.
The shareholders have signed a memorandum of understanding, opening the way in which for AviAlliance to accumulate an additional 10% stake, with HRADF’s remaining 20% to be offered by means of an preliminary public providing (IPO) for itemizing on the Athens Inventory Change, the official informed Reuters on situation of anonymity.
The total 30% stake could possibly be valued at between 800 million and 1 billion euros ($880.6 million-$1.1 billion).
Greece’s privatisation company had initially aimed for the sale to happen within the first half of the yr, however the official mentioned the brand new goal was for it to conclude by the top of the yr, topic to market circumstances.
Tourism is a key driver of development for Greece, accounting for a minimum of a fifth of its gross home product.
With COVID restrictions absolutely lifted this yr, passenger site visitors at Athens airport rose by an annual 47.5% within the January-to-April interval to six.6 million, knowledge revealed on the airport’s web site confirmed.
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Reporting by Angeliki Koutantou; Enhancing by Kirsten Donovan
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