Trainose sale to happen next week, OLTH to wait

Trainose sale to happen next week, OLTH to wait

Next week will likely see the conclusion of the sale of railway service operator Trainose, while the contract for the sale of 67 percent of Thessaloniki Port Authority (OLTH) has been put off until September.

State sell-off fund TAIPED is said to have received a few days ago a response from Trainose’s prospective buyer, Ferrovie dello Stato Italiane, on the final touches to the transaction contract, including a provision that the public service subsidy will not exceed 50 million euros per year including value-added tax.

Once the ministerial decision on that detail is published on the Government Gazette – probably in the next few days – Ferrovie will pay the price of 45 million euros to TAIPED and acquire Trainose.

OLTH’s case will have to wait, though, as the State Audit Council is unlikely to complete its examination of the concession contract within the summer. This should happen in September, so that the sale and purchase agreement can be signed.

Even then the deal will need the approval by the competent authorities, as it will require the green light from the Competition Commission and the contract will need to get the Parliament’s ratification, expected by November. Therefore TAIPED expects the price of 232 million euros to be paid by year-end.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.