BUSINESS

Elliniko sale to becompleted by end-June, says official

Greece will conclude the sale of a prime seaside property at the old Athens airport of Elliniko in June, boosting proceeds from state sales this year to more than 2 billion euros, the privatization agency chief said on Thursday.

“I believe that we will be ready within June,” Stergios Pitsiorlas told Skai TV, after the agency concludes talks with investors to amend some terms of the sale.

Greece clinched the 915-million-euro deal for the sale and long-term lease of Elliniko property to a consortium led by Lamda Development, with Chinese and Abu Dhabi-based firms, in 2014.

Divisions among local communities and technical hurdles have delayed the sale.

“There must be a final agreement which will convince the people,” Pitsiorlas said.

Athens can raise more than 2 billion euros from divesting state assets this year, he added, and can approach a 6-billion-euro target by 2018.

A migrant crisis since the beginning of last year has also impeded Athens’s efforts to conclude the Elliniko deal.

[Reuters]

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