Greece hires advisers for Athens airport sale

Greece hires advisers for Athens airport sale

Greece has hired Bank of America, Morgan Stanley and Deutsche Bank to act as advisers on its planned listing of a 30% stake in Athens airport, two officials close to the matter said on Monday.

Athens said last year it was considering listing a 30% stake in its biggest airport after an ownership review. Germany-based manager AviAlliance holds a 40% stake in the airport.

Greece’s privatisation agency, the Hellenic Republic Asset Development Fund (HRADF), aims for the initial public offering to take place in the first half of the year, said a HRADF official who declined to be named.

The 30% stake could be valued between 800 million and 1 billion euros ($868.5 million and $1.09 billion), the official said, adding that state-owned HRADF has come to a tentative agreement to sell a 10% stake of its total shareholding to AviAlliance.


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