Thessaloniki Water Rises on Greek Asset Sales Plan: Athens Mover

Thessaloniki Water & Sewage Co. rose the most in eight months ahead of a parliamentary committee meeting to discuss Greek government plans to sell a stake in the country’s second-biggest water utility.

Thessaloniki water advanced as much as 7.3 percent percent, its biggest intraday gain since May 10. It traded 6.2 percent higher at 6.68 euros at 11:53 p.m. in Athens today. The stock has added 10 percent since the start of the year, giving it a market value of 242.5 million euros ($323 million).

Finance Minister Yannis Stournaras and Hellenic Republic Asset Development Fund board members will brief parliament’s finance committee today on plans for Thessaloniki Water. The briefing is the last step before investors are called on to express interest in buying some or all of the state’s 74 percent stake, the development fund said in November.

Prime Minister Antonis Samaras met this week with officials including fund Chairman Takis Athanasopoulos, Development Minister Kostis Hatzidakis and Stournaras to call for speedy implementation of the country’s asset sales plan, a key part of efforts to raise revenue and cut debt.

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