Privatization fund TAIPED announced that Lamda Development’s offer for the development project in Elliniko will be revealed on Wednesday. TAIPED’s board of directors will then convene to discuss the details.
Prior to revealing Lamda Development’s offer, TAIPED will reveal the estimate of the independent evaluator. If Lamda Development’s offer is not satisfactory, TAIPED can request a greater price. With Lamda Development being the sole potential investor, this appears to be more than likely.
Afterwards Lamda’s offer will be evaluated by TAIPED’s team of financial consultants, which includes Citigroup, Piraeus Bank and Happold Consulting, based on the internationally accepted procedures and evaluation standards.
According to a report by Ta Nea, Lamda Development’s offer is likely to be about 400 to 500 million euros. Lamda Development is a joint investment venture comprised of Lamda, Al Maabar from Abu Dhabi and the Fosun Group from China.
