The Greek state gets back majority of water utilities

The Greek state gets back majority of water utilities

An inter-ministerial decision of last Friday dictates that a majority stake in Greece’s two water utilities that had been under the control of the privatisation agency (HRADF) since October 2011 is now getting back to state hands.

As reported by ANA-MPA, according to the government gazette, which has already published the decision (614/22-2-2018), the state will reacquire 16,967,000 shares in Athens Water (EYDAP), which represents a 15.97 percent stake in the company, and 3,630,001 shares in Thessaloniki Water (EYATH).

The decision is in accordance with the third adjustment programme for Greece which “foresees the transfer of EYDAP and EYATH shares to the state assets fund, the Hellenic Corporation of Assets and Participations (HCAP)”, while, at the same time it follows a Council of State ruling from 2014 which stated that the “alienation of the Greek state by the majority of the share capital of EYDAP is not constitutionally tolerated” (ANA-MPA)…/IBNA