Astir Palace Tender Attracts 15 Bidders

Fifteen bids were submitted in the first phase of the tender for the acquisition of a majority participation in the share capital of Astir Vouliagmenis S.A., Greek press reports said. The deadline for the tender’s first phase was 29 March 2013.

According to reports, although the Hellenic Republic Asset Development Fund (TAIPED) did not announce which domestic and foreign investors expressed interest, it is speculated that the list of bidders includes Chinese investment group Fosun International, Turkish Koc Group and Greek Lamda Developments Group, TEMES and Dolphin Capital Investments.

Bidders that meet the criteria to participate in the second phase of the tender for the selection of an investor will be informed by the National Bank of Greece and TAIPED. The final part of the tender is said to take place this fall.

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