Factbox: Greek privatisations, past and future

Thessaloniki Water Supply and Sewarage SA

06/05/2014 15:02

May 6 (Reuters) - Greece's successful return to bond markets 
last month has helped to spur interest from international 
investors in the country's plans to sell off state assets - 
including airports, ports and railways - to cut debts. 
 ID:L6N0NM354  
    Below are privatisation proceeds Greece has raised so far, 
its future targets and an indicative time-table of upcoming 
asset sales and concessions. The figures have been compiled by 
Reuters, based on official documents. 
     
     
    PRIVATISATION REVENUE TARGETS 
    (in bln euros) 
     
 Year              Cash raised,  Cash raised,    Value of 
                      annual                   deals signed, 
                                 cumulative    cumulative* 
 2011 (actual)          1.6          1.6            1.7 
 2012 (actual)          0.0          1.6            2.6 
 2013 (actual)          1.0          2.6            3.8 
 2014 (forecast)        1.5          4.1            4.9 
 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        
 * The figures on column "value of deals signed" differ from 
those on column "cash raised" because privatisation proceeds are 
often disbursed in installments over a period of years. They 
also differ because sums are not disbursed upon the deals' 
signature but after their approval by regulators, courts or 
parliament. 
     
     
    MAIN PRIVATISATION DEALS AGREED SO FAR 
    2011 
    - Sale of 10 percent stake in telecoms firm OTE  OTEr.AT  to 
    Germany's Deutsche Telekom  DTEGn.DE  (392 mln euros)  
    - 10-year extension of gaming concession of            
gambling monopoly OPAP  OPAr.AT  until 2030 (375 mln euros)  
    - Granting of license to OPAP to install 35,000              
  video gambling slots (560 mln euros) 
    - Sale of frequency spectrum to Greek mobile telephony     
companies (381 mln euros) 
    - Sale of 2 Airbus jets previously owned by former state    
carrier Olympic Airways (16 mln euros) 
     
    2012 
    - Sale of the State Lotteries to a group of gambling firms 
comprising OPAP, Intralot  INLr.AT  and Scientific Games 
 SGMS.O  (770 mln euros) 
    - 90-year lease of former 2004 Athens Olympics venue IBC as 
a shopping mall to Greek real estate company Lamda Development 
 LMDr.AT  (81 mln euros) 
     
    2013 
    - Sale of a 33 percent stake in gaming firm OPAP  OPAr.AT  
to Czech-Greek investment fund Emma Delta (652 mln euros) 
    - Sale of a 66 percent stake in natural gas grid operator 
DESFA to Azerbaijan's SOCAR (188 mln euros paid to HRADF and 212 
mln euros to Greek refiner Hellenic Petroleum  HEPr.AT ) 
    - Sale of Athens hotel Astir Vouliagmenis to Arab-Turkish 
property fund Jermyn Street (96 mln euros paid to HRADF and 300 
mln euros to Greek lender National Bank  NBGr.AT  
    - Sale and leaseback of 28 properties in Greece and abroad 
to Greek real-estate investment companies NBG Pangea  NBGr.AT  
and Eurobank Properties  EUPr.AT  (261 mln euros) 
     
    2014 
    - 99-year lease of former Athens airport of 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) 
     
     
    DEALS TO FOLLOW 
    (Indicative timetable for submission of binding offers) 
     
    SHARE SALES & CONCESSIONS 
    2014 
    Q2       Horserace Betting Organisation (ODIE) 
    Q2       Thessaloniki Water (EYATH)  TWSr.AT   
    Q2       Small ports and marinas 
    Q3       Regional airports 
    Q3       Hellenic Railways (Trainose), Railway Maintenance   
      Company (ROSCO) 
    Q3       Piraeus Port (OLP)  OLPr.AT  
    Q4       2 Airbus jets 
    Q4        Electricity grid operator ADMHE 
    Q4        First sale of real-estate backed notes 
 
    2015 
    Q1       Thessaloniki Port (OLTH)  OLTr.AT  
    Q1       Athens International Airport 
    Q1       Digital frequency spectrum sale to TV operators 
    Q1        Creation and privatisation of a new electricity    
     producer, spun off from state utility PPC  DEHr.AT  
    Q2        Egnatia Motorway 
    Q2        Large regional ports- Lavrio mega yacht marina 
     
    2016 
    Q1        Sale of a 17 percent stake in state-controlled     
    electricity company PPC  DEHr.AT  
     
    N/A    Greece's biggest water utility Athens Water           
  (EYDAP)  EYDr.AT  
            Sale of government's minority stake in Greece's      
   biggest refiner Hellenic Petroleum  HEPr.AT  
            Natural gas distributor DEPA 
            South Kavala Gas storage 
            Hellenic Post (ELTA) 
 
 (Reporting by Angeliki Koutantou and Harry Papachristou. 
Editing by Jane Merriman) 
 ((angeliki.koutantou@thomsonreuters.com)(+30 210 
3376436)(Reuters Messaging: 
angeliki.koutantou.reuters.com@reuters.net)) 
 
Keywords: GREECE PRIVATISATION/FACTBOX