Athens airport shareholders clear way for 30% stake sale, says source

[Intime News]

Athens International Airport shareholders have given the go-ahead for the sale of a 30% stake in the country's biggest airport by privatization agency TAIPED, a senior official from the agency said on Thursday.

The state-owned Hellenic Republic Asset Development Fund has hired Bank of America, Morgan Stanley and Deutsche Bank to act as advisers on the sale of its stake.

The other shareholders are Germany-based manager AviAlliance, which currently holds 40%, Greece's sovereign wealth fund HCAP with a 25% stake and Copelouzos group, which owns 5%.

The shareholders have signed a memorandum of understanding, opening the way for AviAlliance to acquire a further 10% stake, with TAIPED's remaining 20% to be sold through an initial public offering (IPO) for listing on the Athens Stock Exchange, the official told Reuters on condition of anonymity.

The full 30%...

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