Gov?t to split horse racing company in two before sale

Greece will sell the betting operations and real estate assets of its Hellenic Horse Racing Company separately, with the aim of appealing to a wider range of investors, Costas Mitropoulos, chief executive officer of the Hellenic Republic Asset Development Fund, said on Wednesday.

?We?re going to split the horse betting and racing operations from the real estate,? Mitropoulos said in an interview in his Athens office.

The company, known as ODIE, has exclusive rights in Greece for betting at racetracks.

The company moved to Markopoulo, southeast of Athens, in 2003 to new facilities designed to serve the 2004 Athens Olympic Games.

ODIE owns part of the plot of land that houses an equestrian center and a racetrack, Mitroupoulos said.

?We?ll sell the company and it will rent the horse track and when we decide what to do with the land, we?ll put it on the market.? Credit Agricole SA and its Greek unit Emporiki Bank SA are financial advisers for the privatization of ODIE and Dryllerakis

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