Wednesday April 16, 2014 Search
Weather | Athens
19o C
12o 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)  
IBM to open new center in Athens for big data analytics
Benefits to all single-parent families and new unemployed
Supermarket chains sense worst is yet to come
Cost of borrowing via T-bills drops to pre-bailout levels
PASOK plays down coalition row over scheme for homeless
PASOK remained tight-lipped on Monday about a row that broke out with its coalition partner, New Democracy, late on Monday after Prime Minister Antonis Samaras announced the creation of home...
Greece´s new public sector wage structure ready in September
A new wage structure for civil servants will be ready in September, Administrative Reform Minister Kyriakos Mitsotakis said on Tuesday. The new scheme will contain financial incentives for p...
Inside News
BASKETBALL
Defense lets Olympiakos down at Madrid
Olympiakos played second fiddle to Real Madrid in a rather spectacular game in Spain on Tuesday going down 88-71 to trail 1-0 in the best-of-five quarterfinal series with the Spanish giant. ...
SOCCER
Apollon is relegated, Xanthi to face survival play-off
Apollon followed Aris to the second division and Xanthi will contest a relegation play-off, as the end of the regular season of the Super League on Sunday produced predictable results that a...
Inside Sports
EDITORIAL
Fundamental contradictions
The deep division running through the ranks of the country’s main opposition party regarding the euro and how Greece’s negotiations with its partners and creditors ought to be carried out is...
COMMENTARY
Empty vessels
US satirist and journalist Patrick Jake O’Rourke once said about American politics, “The Republicans are the party that says government doesn’t work and then they get elected and prove it.” ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Defense lets Olympiakos down at Madrid
2. IBM to open new center in Athens for big data analytics
3. Benefits to all single-parent families and new unemployed
4. Supermarket chains sense worst is yet to come
5. Cost of borrowing via T-bills drops to pre-bailout levels
6. Eurobank reaps major investor interest
more news
Today
This Week
1. Greece's market return mirrors return of tourists
2. GD lawmaker hails Hitler, condemns homosexuality in interview
3. Suspected smuggler dies after trying to ram Coast Guard vessel off Kos
4. New Democracy to confirm list of candidates for Euro elections
5. Greek far right fires up Athens election campaign
6. Anchor investors bid for chunk of Greek Eurobank's share offer
Today
This Week
1. Bomb explodes outside Bank of Greece
2. Time to take a hard look at debt sustainability, says OECD chief
3. For faith and country
4. CCTV footage from Nigrita Prison shows signs of inmate torture [Video]
5. Samaras sees no need for third bailout
6. Car bomb explodes outside Greek Central Bank building, no one hurt [Update]
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.