TAIPED Seeking Financial Advisors for Sale of 30% Stake in Athens Airport

Greek state privatization fund TAIPED (or HRADF) is seeking for financial advisors (a leading investment bank or firm) to provide advisory services for the sale of its 30 percent stake in Athens International Airport S.A. (AIA).

“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,” TAIPED said in an announcement on Friday.

AIA S.A. was established in 1996 in order to build, maintain and operate the Athens International Airport “Eleftherios Venizelos” on a 30 year concession, which ends in 2026. Currently, the shareholders of AIA are the Greek State (25 percent), TAIPED (30 percent), AviAlliance GmbH (26.7 percent plus eight shares), AviAlliance Capital GmbH (13,3 percent) and the D. Copelouzos family (five percent minus eight shares).

The privatization program of TAIPED includes the sale of 30 percent of the shares of AIA.

The deadline for submitting proposals is May 25.