Privatization tender with much at stake

The process for the sale of a 33 percent state-held stake in the OPAP gaming company, one of the country?s most profitable state corporations, will formally start this week, with an invitation for expressions of interest in the controlling stake, the chief executive of the Hellenic Republic Asset Development Fund (TAIPED), Yiannis Emiris, said on Wednesday.

This is a bigger stake that the originally planned 29 percent share.

Interested parties will have to submit offers by November, he added, stressing that it is unlikely the key privatization in the country?s sell-off program will have been completed by year-end.

He said the involvement of investment funds is highly likely given that they alone hold adequate cash at the moment.

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