Greek state privatization fund TAIPED is looking for financial advisors by May 25 for the sale of its 30% stake in Athens International Airport, a key part of the country’s privatization program.
In theory, the voting rights held by HRADF imply that the fund is now the majority shareholder in AIA (with 55 percent) and could thus define the strategic priorities of AIA. But the stake cannot be seen as a single unit. Rather, it consists of two separate packages, one initial shareholding of 25 percent and the recent additional 30 percent stake.
More specifically, the shareholders of Athens International Airport are the Greek State (25%), TAIPED (30%), AviAlliance GmbH (26.7%), AviAlliance Capital GmbH (13,3%) and the Dimitris Copelouzos family (5%).
The privatisation method for the transferred 30% equity stake, previously held by the finance ministry, is currently under consideration.
According to the relevant announcement, “HRADF has decided to evaluate a potential monetization of its stake in Athens International Airport SA and hereby invites highly experienced financial advisors to submit a proposal in relation to the scope of work described in the invitation.”
Furthermore, the extension of the Athens International Airport (AIA) concession contract is estimated to be particularly beneficial to the Greek state. The price is calculated to come to at least 1.2 billion euros of which 400 million will go to public coffers.
The existing contract expires in 2026, with the extension taking its expiry to 2046.
This contract and the concession of 14 regional airports to Fraport, worth 1.23 billion euros, point to Greece’s airports being a critical factor in the country’s plan for return to growth.
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