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Newsletter May 2013

HIGHLIGHT

Privatisations: A Key Growth Catalyst
 
Greece’s privatisation programme, with a wide variety of projects on offer, is drawing strong interest.

High Investor Interest for Development in Paliouri Halkidiki
International and domestic investor groups showed high interest for the development of property in Paliouri, with nine investment schemes submitting expressions of interest by the April 5, 2013 deadline.

The privatisation consultants will evaluate the proposals and send their recommendations to the Board of the Hellenic Republic Asset Development Fund (HRADF) regarding the candidates who meet the criteria for the next phase of the tender.

Development Process Launched for the National Agency for Horse Racing (ΟDΙΕ)
HRADF (the Hellenic Republic Asset Development Fund) recently announced the opening of an international public tender for granting the exclusive right to organise and conduct horse racing betting in Greece for the next 20 years. The National Agency for Horse Racing (ODIE) has held this right thus far. The bidding process, already underway, is being conducted in two phases:

• Phase 1: Submission of expression- of interest from potential investors by April 12, 2013.
• Phase 2: Submission of binding financial bids of the preselected candidates.

The HRADF financial advisors for the project are Emporiki Bank and Credit Agricole and Legal Consultants are the law firms Dryllerakis & Associates and Karatzas & Partners.

Development Procedures for Regional Airports and Marinas
The Board of HRADF recently endorsed procedures for the realisation of the following projects:

1. Utilisation of Regional Airports
The Board of Directors approved the procedure and terms of use for granting the right to use, operate, and manage regional airports, which are divided into two groups, each comprising 7 to 10 airports.

Group A includes the airports of Thessaloniki, Corfu, Chania, Kefalonia, Zakynthos, Preveza, Kavala and optionally up to three of the airports of Alexandroupoli, Araxos, Kalamata and Nea Anchialos.

Group B comprises the airports of Rhodes, Kos, Samos, Lesvos, Mykonos, Santorini, Skiathos and optionally up to three of the airports of Lemnos, Chios, Karpathos and Nea Anchialos.

2. Utilisation of the First Group Marinas (Alimos, Poros, Hydra, Nea Epidaurus)
The Board of Directors approved the procedure and terms of use for the granting of rights to use, operate, and manage the first group of marinas consisting of (a) the Alimos Marina, (b) the tourist anchorage of Nea Epidaurus, (c) part of the port of Hydra and (d) part of the port of Poros.

3. Final Phase of Tender for the Sale of Six Overseas Properties
Ten valid financial bids (out of eleven bids submitted in total), by investors for properties abroad, were unsealed in the presence of attending representatives. One bid was rejected, as it was not submitted as specified in the tender.

Specifically, four bids for the property in London, four bids for the property in Nicosia, two bids for the property in Belgrade and one bid for the property in Brussels were received.

There were no offers for properties in Tashkent and Ljubljana. The board will check all the supporting documents of the tenders, identify the final bidders and complete the bidding process.