Monday March 2, 2015 Search
Weather | Athens
11o C
6o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Who bid for Hellenic Sugar?

The binding offers in the international tender for a 82.33 percent stake in the Hellenic Sugar Industry will be opened on Friday at 3 p.m.

Kathimerini understands that at least four bids have been tabled, compared with eight groups that had been short-listed in the first stage of the tender in September.

As to who the bidders might be, sources point to the groups which had expressed an interest and were short-listed in the unsuccessful tender last May. These originated from France, Poland and Serbia, and also included European and US private equity funds. No Greek interest has been reported, likely due to inability to gain backing from domestic banks.

The aim of the special liquidator, Nikos Marantos, is to select the winning bid within next month, so that the much-needed funds can be quickly cashed in, given that the process that has only seen unsuccessful tenders will have been ongoing for two years in February.

Piraeus Group, the owner of the company’s assets following the absorption of its previous owner, ATEbank, will seek to settle Hellenic Sugar’s loans (totaling 130 million euros) with the tender winner. Sources tell Kathimerini that the groups that have submitted binding offers have already met with Piraeus Bank officials to find out how the settlement of the loans to the Greek lender will be conducted.

France’s Cristal Financiere had been chosen as the preferred bidder last March, but it backed out as its demand for a generous haircut to the industry’s loans was not implemented. Also short-listed were Bulgarian firm Litex and Serbia’s Sunoko.

A senior Hellenic Sugar source argues that the reason tenders have failed to date is that its shares remained with the bad part of ATEbank that is currently under liquidation and that it had to become clear which bank the industry’s loans would be transferred to. The same source added that Piraeus will have to announce the level of loan debts that it considers non-negotiable, so that the bidders know that the price of the stock will be the only tender criterion.

ekathimerini.com , Thursday December 19, 2013 (22:33)  
Eldorado Gold says Greece blocks work at Skouries mine
Greece has ways to cover March funding needs, says ministry official
ECB uncomfortable with leading role in Greek funding drama
Next Greek aid deal will emerge in coming months, Moscovici says
Greece seeks to assure it can cover funding needs, repay IMF loan
Greece's government sought to assure its creditors and investors on Monday that it can cover its funding needs this month, including repaying a 1.5 billion euro loan to the International Mon...
Varoufakis urges ´intelligent´ debt restructuring
Greek Finance Minister Yanis Varoufakis called Monday for «intelligent" restructuring of Greece's debt, while acknowledging that a write-down would be unacceptable for the country’s creditor...
Inside News
SOCCER
Super League to seek way out of impasse
The Super League governing board is convening again on Monday in a bid to overcome the tensions that keeps building up in Greek soccer despite the suspension of action on the field over the ...
BASKETBALL
Spanoulis leads Olympiakos to win over Malaga
A good second half was enough for Olympiakos to get the better of Unicaja Malaga (77-72) and score its seventh win in eight games at the second group stage of the Euroleague on Friday. Playi...
Inside Sports
COMMENTARY
A unionist agenda
Maybe Greece will not experience a credit event, “because it is in no one’s interest,” as Minister of State for Coordinating Government Operations Alekos Flambouraris recently assured. Maybe...
EDITORIAL
The beguiling limelight
Too much media exposure is never a good thing and there is no shortage of newcomers in politics who are beguiled by the limelight. What usually comes after this thrall of publicity is the in...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greece seeks to assure it can cover funding needs, repay IMF loan
2. Eldorado Gold says Greece blocks work at Skouries mine
3. Varoufakis urges ´intelligent´ debt restructuring
4. Merkel wants ´good future´ in eurozone for Greece
5. Greece has ways to cover March funding needs, says ministry official
6. Parliament will not vote on loan extension, says government
more news
Today
This Week
1. Greece to make international protest over Turkey reserving Aegean air space
2. Greek reforms could prompt bailout payment in March, says Dijsselbloem
3. Schaeuble urges Greece to implement reforms during extension
4. Next Greek aid deal will emerge in coming months, Moscovici says
5. EU Commission: seeking unity in EU after Spain, Portugal clash with Greece
6. ECB uncomfortable with leading role in Greek funding drama
Today
This Week
1. Time for Alexis Tsipras to keep his nerve
2. A fierce battle looms
3. Greece to make international protest over Turkey reserving Aegean air space
4. The ignorance of the West about the culture of Islam
5. SYRIZA feeling the pain
6. Spain said to lead push to hold Greece to terms as Podemos grows
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.