EC concerned about AIA contract extension

TAGS: Privatizations

Leading officials of state sell-off fund TAIPED traveled to Brussels on Wednesday with the aim of hastening the process of getting the European authorities’ approval to extend the contract for the concession of Athens International Airport.

Their meetings with European Commission officials focused on the next moves that will allow for the unblocking of the contract extension.

Sources familiar with the European framework and practices tell Kathimerini that the Commission is concerned about the planned extension.

TAIPED signed the 20-year extension contract with AIA SA on September 30, with the company set to pay 600 million euros and the net revenue for the country’s privatization program to come to 483.87 million euros.

The fund’s technical experts will meet with the Commission’s competent departments on Thursday to establish the next steps to be taken.

TAIPED has also hired Deutsche Bank and Eurobank as consultants for the utilization of the 30 percent stake in AIA it has in its portfolio.