Greece Counts on Gas, Gambling to Revive Asset Sales Tied to Aid

Posted by Forexsq 589 days ago (http://www.bloomberg.com)
img Greece is banking on its gas and gambling companies to revive a state-asset sales plan that underpins 240 billion euros ($310 billion) of foreign aid.

The Hellenic Republic Asset Development Fund expects to receive binding bids for lottery operator Opap SA (OPAP), gas monopoly Depa SA and grid operator Desfa SA by the end of April, said Ioannis Emiris, the privatization agency’s chief executive officer. The proceeds will make up the bulk of the 2.3 billion euros Greece needs to raise from sales this year, he said.

“There is no turning back,” Emiris said in an interview at his Athens office on March 13. “It’s a program that must proceed. It has been decided by law, and it has already begun. There’s no stopping it.”



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