Factbox: Greece's privatisation deals in doubt after leftist victory

Thessaloniki Water Supply and Sewarage SA

28/01/2015 16:29

ATHENS, Jan 28 (Reuters) - The new government of Prime 
Minister Alexis Tsipras has moved swiftly to roll back parts of 
Greece's international bailout agreement with its European Union 
and IMF creditors, including stopping some asset sales. 
 ID:nL6N0V71ND  
    The government says it will halt a planned privatisation of 
Public Power Corporation of Greece (PPC), the country's biggest 
utility, as well as the sale of a majority stake in the largest 
seaport, Piraeus  OLPr.AT  
    Greece has raised only 3.1 billion euros ($3.5 billion) from 
privatisations since it was first bailed out five years ago by 
the EU and International Monetary Fund, falling far short of an 
original target of about 22 billion euros. It is due to receive 
a further 4.6 billion euros from agreed deals. 
    The previous conservative-led government aimed at 
privatisation revenues of 2.5 billion euros this year. 
    Below is a list of privatisation deals that are underway or 
planned, Greece's targets under the bailout programme, and 
amounts raised so far. 
    Privatisation proceeds are often disbursed upon the deals' 
signing but after their approval by regulators, courts or 
parliament. Some money comes in installments over a period of 
years.  
     
    PRIVATISATION DEALS UNDERWAY  
    - 99-year lease of former Athens airport Hellenikon to a 
group of real estate and investment firms including Greece's 
Lamda Development  LMDr.AT , China's Fosun  0656.HK  and 
Abu-Dhabi based property firm Al Maabar (915 mln euros)  
    - 40-year lease of 14 regional airports to Germany's Fraport 
 FRAG.DE  and Greek energy firm Copelouzos (1.23 bln euros)  
    - Hellenic Railways (Trainose), Railway Maintenance Company 
(ROSCO) 
    - Sale of a majority stake in Piraeus Port (OLP)  OLPr.AT , 
which is now being halted, sale of a majority stake in 
Thessaloniki Port  OLTr.AT   
    - Small ports and marinas 
    - Electricity grid operator ADMHE 
    - Planned sale of 30 percent of PPC's production activities 
(now halted) 
    - Sale of a 66 percent stake in natural gas grid operator 
DESFA to Azerbaijan's SOCAR has been agreed but is pending EU 
approval. Greece is due to receive 188 million euros while Greek 
refiner Hellenic Petroleum  HEPr.AT  is due to receive 212 
million euros. 
     
    UPCOMING PRIVATISATION DEALS NOW IN DOUBT 
    - First sale of real estate-backed notes 
    - Sale of a stake in state gas company DEPA 
    - Sale of a stake in Athens International Airport 
    - Concession to operate the Egnatia toll motorway in 
northern Greece 
    - Large regional ports - Lavrio mega-yacht marina southeast 
of Athens 
    - Sale of government's minority stake in Greece's biggest 
refiner Hellenic Petroleum  HEPr.AT  
    - Sale of a stake in Hellenic Post (ELTA) 
    - Rights to develop South Kavala gas storage 
     
    PRIVATISATION REVENUE TARGETS AS AGREED WITH EU/IMF 
    (in billion euros)     
 Year              Cash raised,  Cash raised,     
                      annual     cumulative     
 2011 (actual)          1.6                          
 2012 (actual)          0.0          1.6             
 2013 (actual)          1.0          2.6                 
 2014 (forecast)        1.5          4.1 
 2015 (forecast)        2.2          6.3 
 2016 (forecast)        3.4          9.6 
 2017 (forecast)        2.9         12.4 
 2018 (forecast)        3.0         15.4 
 2019 (forecast)        3.4         18.7 
 2020 (forecast)        3.6         22.3          
 
($1 = 0.8830 euros) 
 
 (Reporting by Angeliki Koutantou; editing by David Stamp) 
 ((angeliki.koutantou@thomsonreuters.com; +30 210 3376436; 
Reuters Messaging: angeliki.koutantou.reuters.com@reuters.net)) 
 
Keywords: GREECE POLITICS/PRIVATISATIONS