BUSINESS

Three parties interested in stake in Greece's ADMIE

TAGS: Privatizations

Greece has been approached by three parties interested in buying a minority stake in state-run power grid operator ADMIE, Energy Minister Panos Skourletis said in a newspaper interview.

“The characteristics of the potential investors for the sale of a percentage of ADMIE are known... We’ve already been approached by three parties,” Skourletis was quoted as telling the Ethnos newspaper.

“The experience and knowledge of the potential investors in this particular field will determine which one will be chosen, in combination of course with the offered price,” he added.

Under the terms of its third multi-billion-euro bailout, Greece has promised to sell up to 24 percent of ADMIE, a grid of more than 11,000 kilometers of high-voltage power cables that is fully owned by public power utility PPC.

[Reuters]

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