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Greek Gov't Selling 55% Share of Saltworks Company

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The Greek Ministry of Finance is interested in hiring legal and financial advisers for the sale of their 55.19% share of the Greek Saltworks company.
The task of the legal advisers is to examine whether the Greek State can proceed to the privatization of its 55% share. They will specifically explore the possibility of the privatization of salt which is part of shared goods and sensitive ecosystems that cannot become subjects of privatization.
On the other hand, the financial advisers are supposed to conduct an evaluation of the company’s assets and recommend a potential production of new products, a vertical integration of production and an activity in new sectors with economic efficiency. They will also conduct a report for the evaluation of the company during the current situation and with any proposed alternative, applying four methods of evaluation, in accordance to international practices.
The Interministerial Committee for Asset Restructuring and Privatization decided to use the 55.19% held by the Greek State in Greek Saltworks in April 2013, after an outbreak of investment interest in the company. The Greek salt company KALAS owns 24.81% and the remaining 20% is distributed among various Greek municipalities.
The Greek Government intends to sell its share and to assign its management rights on the Saltworks in Greece.

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