Sell-off plan approved

An interministerial committee on Wednesday approved a 2011-13 privatization plan aimed at raising 7 billion euros. The committee, comprising the ministries of Finance, Regional Development, Labor, Defense and the Environment, among others, decided to immediately appoint advisers to draw up an inventory of the state’s commercial real estate assets. The inventory should be completed by June, the Finance Ministry said in a statement yesterday. Plans include establishing tradeable special-purpose vehicles to group «mature public real estate assets» and appointing advisers to extend the operating contract for Athens International Airport and assess options for the state’s stake in the airport and in gas company DEPA. The government will also seek advice in the first quarter of 2011 on extending the concession OPAP has on sports betting in the country and for «an assessment of the best available options for the management» of the government’s 34 percent stake. Strategic investors will be sought for Hellenic Defense Systems, the Horse Racing Organization ODIE and Hellenic Post Offices.

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