News / Three binding offers submitted for Greek airports

Three binding offers submitted for Greek airports

🕔 October 14, 2014
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The Hellenic Republic Asset Development Fund (HRADF) has announced that three investment entities submitted today binding offers for the concession of the right to use, operate, manage and exploit 14 Regional Airports in Greece, which are divided into 2 clusters:

  • Cluster A includes the airports of Thessaloniki, Corfu, Chania, Kefalonia, Zakynthos, Aktion, Kavala and
  • Cluster B includes the airports of Rhodes, Kos, Samos, Mitilini, Mykonos, Santorini,Skiathos.

In particular, the following consortia submitted binding bids for both groups:

In accordance with the tender process the next stage is the review of the technical offers and the legal documentation. At a forthcoming session, following the recommendation of the advisors of the project, HRADF's Board of Directors will qualify the investment entities that will proceed to the next stage of the tender process and proceed with unsealing of the financial offers.

The award decision is expected within November.

In August we announced that the EIB was analyzing the financing of the deals.

Currently, all regional airports are state-owned without any corporate structure and supervised by the Hellenic Civil Aviation Authority (HCAA). Following the privatisation, HCAA will retain its role as regulator of aeronautical services and provider of air-traffic control services.

The Hellenic Republic has appointed Citigroup Global Markets Limited and Eurobank EFG Equities Investment Firm S.A. as financial advisors, Your Legal Partners and Drakopoulous & Vasalakis Law firm as legal advisors and Lufthansa consulting, Doksiadis Associates and Alanna Consulting Group, as technical advisors to assist with the privatisation.

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