ETA receives binding documents for sale of casino and marinas

State-owned Hellenic Tourist Properties (ETA) yesterday received binding documents relating to the privatization tenders for the Mount Parnitha casino and the marinas of Alimos, Flisvos and Zea near Athens. The consortia of Hyatt-Hellenic Technodomiki and Casino Club Loutraki-Piraeus Bank submitted letters accepting the terms of the tender for the casino, ahead of filing legal documents on Friday and binding financial bids as of next week. Both candidates have submitted irrevocable letters of guarantee for 70 million euros. The tender is for a 49-percent interest in the casino, with an option of an additional 2 percent for the winning bidder that will give it a controlling stake. The consortia Triaina Marinas, Attica Marinas and Apollonion submitted technical and financial bids for all three marinas; Saronic Marinas filed for the Alimos and Flisvos facilities, Alpha Astika Akinita for Flisvos and Zea, Alfa Hellenic Marines and Apollonion for Alimos and Flisvos, while the consortia Gener-Atermon-Vryonis and Limin Alimountos submitted bids only for Alimos. The winning bidders will carry out investments upgrading the facilities, which they will retain a 75-percent stake in and operate for 40 years. ETA will retain the minority interest and receive annual rent. ETA said in a statement that the privatization schemes will constitute an important factor in preparation for the company’s listing on the Athens bourse. In another statement, ETA said there had been strong interest in the acquisition of a 49-percent stake in its subsidiary Agrotouristiki by way of a share capital increase scheme. Domestic debt stock at the end of April 2001 was 59,210 trillion lira, the Treasury reported at the time.