Lamda
Development has returned with a new offer of 915 million euros for the Elliniko
project, after its initial offer was deemed insufficient by the state privatization
fund TAIPED and less than the independent evaluator’s appraisal.
The new
offer is about 25% more than the previous offer, while TAIPED announced that
33% of those funds will be made available immediately, should Lamda Development’s
bid be successful. The privatization fund further explained that Lamda Development
as vowed to cover the cost of 1.25 billion euros necessary for infrastructure
projects.
Overall,
Lamda Development’s bid includes guarantees that t least 5.7 billion euros will
be invested in the Elliniko project, while the Greek State will collect 30% of
future profits, should the internal rate of return exceed 15%. TAIPED will
evaluate the offer and decide whether to accept at the next meeting of its managerial
board.
