Reds submits highest bid for former U.S. military base in Crete

Reds Real Estate Development and Services SA

06/12/2021 14:20

ATHENS, Dec 6 (Reuters) - Greek developer Reds  CAMr.AT  has
offered the highest bid for a sprawling former U.S. military
base on the island of Crete at 40.2 million euros ($45.40
million), Greece's privatisation agency (HRADF) said on Monday.
    Four investors bid in October to acquire the 85-acre plot in
Gournes, outside the city of Heraklion, and turn it into a
seaside tourist resort with an entertainment park.  urn:newsml:reuters.com:*:nL8N2RB499
    HRADF, which is handling the sale, intially chose three of
them and last month unsealed their offers. In line with the
tender's rules, it then asked two bidders, Greek developers
Dimand and Reds, to improve their offers via an e-auction on
Dec. 6.
    Reds' 40.2 million euro bid was the highest in the auction,
HRADF said, adding that its board will meet soon to ratify the
result.
    The euro zone's most indebted country has raised more than 7
billion euros  ($7.91 billion) from state asset sales since
HRADF was set up in 2011.
($1 = 0.8855 euros)

 (Reporting by Angeliki Koutantou
Editing by David Goodman)
 ((angeliki.koutantou@thomsonreuters.com; +30 2102214608;
Reuters Messaging: angeliki.koutantou.reuters.com@reuters.net))