Privatization fund TAIPED has announced the bidding competition for the sale of TRAINOSE. The bidding process has two phases, where interested parties must sign a confidentiality agreement and submit a binding offer.
TAIPED’s consultants in the bidding process will be the Investment Bank of Greece, Kantor Management Consultants, Louis Berger, Hogan Lovells International LLP and the M&P Bernitsa legal firm.
The financial criteria to participate are that the average annual consolidated equity of the latest three audited financial years must exceed 100 million euros for legal entities and 200 million euros for investment funds.
Regarding the legal criteria, TAIPED will reject firms in bankruptcy, individuals condemned of penal offenses related to their profession of business conducts, such as participation in criminal organizations, corruption, fraud etc.
Vima previously revealed that before the competition ends, TRAINOSE will sign a five-year contract with the State to ensure the continued service in remote areas (at a maximum cost of 50 million euros).
TRAINOSE will also sign contracts with OSE for access to its railroad network and long-term lease of rolling stock (5+5 years). A contract has also been signed with ROSCO (which is also up for privatization) for the maintenance of the rolling stock for ten years.
