March 21, 2016

Greece delays bidding for Trainose privatisation

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Greece delays bidding for Trainose privatisation Trainose

THE Hellenic Republic Asset Development Fund (HRADF) announced on March 21 that bidding for the privatisation of Greece's national train operator Trainose and Hellenic Company for Rolling Stock Maintenance (Rosco) will be delayed after prospective investors asked for more time to prepare their offers.

HRADF says three bidders interested in acquiring 100% of the share capital in Trainose have requested an extension to the deadline for submitting expressions of interest, which was previously scheduled for today.

In addition, one of the prospective bidders for Rosco has requested an extension pending the outcome of a government vote on tax, social security and pensions reforms, which will have an impact on financial bids for the company.

Under the revised timetable, HRADF has set an April 15 deadline for initial expressions of interest in Trainose, while the closing date for binding offers has been pushed back from April 26 to May 31. The deadline for binding offers for Rosco has also been postponed by two months until the end of May.


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