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Let the fire sale begin! Greece is ready to finalize a 1.2 billion euro deal with Germany to operate regional airports and ports

Just so we understand.

The EU/IMF/ECB “may” loan Greece a few billion euros so Greece can then immediately send the money back to the EU/IMF/ECB and then (in order to pay down the new loan that just got sent back to the Troika), Greece will have to begin selling parts of Greece to the Troika.

Via eKathimerini

Greece is willing to quickly finalize a 1.2 billion-euro deal with German operator Fraport to run regional airports and reopen bidding for a majority stake in Piraeus port, a senior privatizations official told Reuters on Tuesday.

The plan to press ahead on the two major asset sales – whose fate had been in doubt since Prime Minister Alexis Tsipras took power – appeared to be the latest concessions offered by his government in an effort to secure aid from EU and IMF lenders.

The Greek finance, shipping and economy ministries involved in the two asset sales declined to comment.

“The issue of regional airports will be concluded immediately,” the official at Greece’s privatizations agency HRADF said on condition of anonymity, adding an announcement could be expected by May 15.

The official also said Athens would invite, in the coming days, shortlisted investors to submit by July binding offers for a 51 percent stake in Greece’s biggest port, Piraeus, with the option to raise their stake to 67 percent over five years.

China’s Cosco Group, which already manages two of Piraeus port’s cargo piers, is among five preferred bidders.

References:

http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_05/05/2015_549717

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Let the fire sale begin! Greece is ready to finalize a 1.2 billion euro deal with Germany to operate regional airports and ports

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