Athens News Agency: News in English, 06-02-28

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] Gov't seeks to raise 1.6 bln euros from privatisations this year

[02] Unions hail success of strike action

[03] Bakoyannis holds talks with Solana, NATO chief

[04] New police, fire brigade and army chiefs announced

[01] Gov't seeks to raise 1.6 bln euros from privatisations this year

The government is currently implementing a wide-ranging privatisation programme, aimed to raise 1.65 billion euros, according to a recommendation by the Inter-ministerial Privatisation Commission, which includes Economy and Finance Minister George Alogoskoufis, Development Minister Dimitris Sioufas and Labour Minister Savvas Tsitouridis.

The Commission's recommendation calls for examining the possibility of selling up to a 9.26-percent equity stake in Emporiki Bank (owned by the state) and selling stakes in the same bank owned by government agencies (totalling 12.5 pct). The Greek state is currently seeking a legal and financial consultant to the sale.

The Greek state is also ready to sell another stake in ATEbank through a secondary offering to institutional investors, with the aim of boosting the share's liquidity. The exact number of shares to be offered and the time of the offering will be decided by the Inter-ministerial Privatisation Commission.

Meanwhile, the Commission agreed to float the Post Savings Bank on the Athens Stock Exchange through a combined offering of shares owned by the Greek state to domestic and foreign investors. The exact number of shares to be offered will be decided in a later date. A preparation procedure for listing in ASE is currently in full swing and it is expected to be completed in the first half of the year. The Commission also announced to examine the possibility and preconditions for an equity partnership between Post Savings Bank and Hellenic Post. A financial consultant is expected to present its recommendation to the commission with the aim to complete the transaction in March 2006.

The Commission decided to examine the possibility of alternative use of facilities and business units owned by the Enterprise of Touristic Development, such as a marina in the Faliro district of southern coastal Athens, a casino on the Ionian island of Corfu, a golf course on the Dodecanese island of Rhodes and the Xenia hotels in Vytina, Thassos, Skiathos and Tsagarada.

The Commission also approved the beginning of procedures for the flotation of DEPA -- Greece's natural gas grid operator -- on the Athens Stock Exchange.

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