Kourkoumelis & Partners News Invitation to submit an expression of interest for EYATH
Invitation to submit an expression of interest for EYATH
26/02/2013 12:39

The Hellenic Republic Asset Development Fund invites interested parties to submit their expression of interest for the acquisition of a stake of 51% in EYATH by way of purchasing existing shares from the Fund and assumption of the management of the Company through the conclusion of the Share Purchase Agreement and the Shareholders΄ Agreement. The Shareholders΄ Agreement shall include indicatively, inter alia, rights of the Fund as a minority shareholder, and possibly additional rights which shall be agreed in favour of the Fund and/or the Preferred Investor.

The Hellenic Republic Asset Development Fund has undertaken the exploitation of private assets owned by the Hellenic Republic, as well as of private assets of public undertakings whose share capital is fully owned, directly or indirectly, by the Hellenic Republic or Public Law Legal Entities.

The privatisation of the joint stock company “Thessaloniki Water Supply and Sewerage Company S.A.” is part of the Mid-Term Fiscal Strategy 2012-2015. The Fund currently owns 74,017% of ΕΥΑΤΗ. The shares of EYATH are listed on the Athens Exchange. EYATH is currently the holder of the exclusive right to provide water and sewerage services in the greater urban Thessaloniki region. The Fund’s Board of Directors with a meeting held on 13/2/2013 has approved the process for the aforementioned transaction in accordance with this invitation.

Within the framework of the above legislation, the Fund has decided to sell a stake in EYATH corresponding to 51% of the total share capital of EYATH, through an international public competitive tender process to be procured by the Fund.