Page 11 - Yiorgos Anomeritis

reference to sales percentage of shares, such as written for

example: OPAP 33%, PPC 17% or the word “sale” for other

businesses.

It is obvious that in the Memorandum III ( N.4093/2012), no

specific mention of selling shares of PPA SA is recorded as

accurately recorded in the memorandum I (L.3845/2010). On

the contrary, the Memorandum III requires that privatization

should be done mainly through concessions.

11. Crisis and Privatization

Privatisation is used as one of the ways to repay creditors and

HRADF has undertaken the appropriate procedures.

But especially for the port industry, since “ports are growth

engines”, according to the recent words of Commissioner Slim

Kallas, privatizations should take into account:

 The European acquis and EU regulations.

 The conditions of the ASE.

 The legal complications that emerge due to “Port

Authority”, foreshore and seashore, aggradations, and

archaeological sites.

 The lack of investor interest for such infrastructures etc.

The privatization options are theoretically two:

 The solution of the sale of all shares of the port

company to a private investor.

 The solution of concessions of infrastructure or

activities.

The first solution no longer applies anywhere, not only in

European ports, but also worldwide. And where applied (eg in the

UK by Thatcher in 3 ports) led to failure. The assumption that in

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