Greece Plans to Sell 51% of Thessaloniki Water by Next October

The Greek government plans to complete the sale of 51 percent of Thessaloniki Water & Sewage Co. in October, according to Takis Athanasopoulos, chairman of the Hellenic Republic Asset Development Fund.

There will be a two-phase international tender for the stake, with the state’s remaining holding to be sold later, Athanasopoulos told parliament’s finance committee yesterday. The winner of the competition will manage the network and oversee investment in it.

Finance Minister Yannis Stournaras and asset fund board members briefed the parliamentary committee yesterday on the plans for Thessaloniki Water, the country’s second-biggest water utility. The fund said in November that the briefing was the last step before starting the process of selling the state’s 74 percent stake.

The government will negotiate a concession of as much as 50 years with the new stakeholder, Kathimerini reported today.

Prime Minister Antonis Samaras met this week with officials, including 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.

Before it's here, it's on the Bloomberg Terminal.