Tender Launched For Astir Palace Complex

The National Bank of Greece has launched a public tender for investors to submit an expression of interest for the acquisition of a majority participation in the share capital of Astir Vouliagmenis S.A.

The tender involves the majority stake of shares (85 percent) in the share capital of the Astir Palace luxury resort complex.

Astir Palace, located on the Athenian Riviera, consists of hotel units of 307,000 square meters. Two of the hotels are in operation (Arion Resort & Spa and The Westin Athens) while the third is closed (“Aphrodite” hotel).

The tender has been launched in consultation with the Hellenic Republic Asset Development Fund (TAIPED) as a section of the resort is built on property owned by the Greek Government.

Interested parties may request clarifications regarding the content of the tender by 28 February 2013, 5pm.

The deadline for the first phase of the tender is 29 March 2013. A second phase, for the selection of an investor, will follow.

The Astir complex is located on the Vouliagmeni peninsula, 25 kilometers from Athens International Airport.

To view the tender (in English) press here.