BUSINESS

Selloff projects to approach target for 2013

By Vangelis Mandravelis

Three important privatization projects are penciled in for completion by March, according to the plan drawn up by the government and the state privatization fund TAIPED, and they concern OPAP, the Cassiope plot on Corfu and the state lotteries.

The biggest of the three is the sale of the state’s 33 percent stake in gaming company OPAP to private investors, which is set to fetch between 500 and 700 million euros. The concession of state lottery licenses will be announced within December, with the aim being to cash in some 250 million euros in advance and another 250 million over the course of the next 12 years, according to the terms of the concession agreement. Meanwhile, the utilization of the Cassiope plot is not expected to fetch any more than 25 million euros.

These three projects are expected to fetch between 800 million and 1 billion euros by the end of the first quarter of 2013. Adding the selloff of Public Gas Corporation (DEPA) and the gas transmission operator (DESFA), the sum will reach up to 1.5 billion euros, edging close to the target of 1.7 billion euros in revenues set for 2013.

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