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Greece to Invite Investor Interest in Thessaloniki Water Holding

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Nov. 30 (Bloomberg) -- Greece plans to invite investors next month to formally express interest in buying some or all of its 74 percent stake in Thessaloniki Water Supply & Sewage Co. SA, the country’s second-largest water company.

The invitation, the first step of the sales process, is scheduled to take place by the end of the year, according to the Hellenic Republic Assets Development Fund’s plan for selling Greek state assets.

While the fund has decided on the process to sell Thessaloniki Water, its final decision will be made after the plan has been presented to a parliamentary committee, HRADF said Nov. 21. No date has been set yet for the presentation.

Greece’s stake in the water supplier is valued at 131.4 million euros ($171 million) based on current trading prices. The share price has risen 53 percent since the beginning of the year. France’s Suez Environnement Co. has a 5 percent stake in the company, Bloomberg data show.

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To contact the reporter on this story: Paul Tugwell in Athens at ptugwell1@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net