HRADF announces the signing of the contract for the sale of ‘Elliniko’

HRADF announces the signing of the contract for the sale of ‘Elliniko’

 

By Spiros Sideris – Athens

The bidding process for the exploitation of “Elliniko” (area of the former airport of Athens) was completed today with the signing of the contract for the sale of 100% of the shares of “Elliniko” S.A. to Lamda Development S.A., announced the Greek Asset Development Fund (HRADF).

In particular, as was announced by the HRADF, the signing of the contract for the sale of 100% of the shares of the “ELliniko” S.A. to Lamda Development S.A. marks the successful completion of a demanding international bidding process conducted by the most strict safeguards for the Greek State and under full transparency.

Under the terms of the sales contract, to the price of EUR 915 million was added a further EUR 1.2 billion the company agreed to pay for the implementation of the necessary infrastructural works.

The approval of the Integrated Development Plan will be followed by the payment of the amount and the transfer of shares to the buyer.

“‘Elliniko’ is currently the largest urban regeneration project in Europe and one of the largest worldwide, with multiplying development benefits for the economy of Athens and the country and the creation of tens of thousands of new jobs”, as is noted.