Connect with us

In Talks of Privatizing Greek Public Assets to Long-Term Investors

Published

on

The government of Greece is planning to privatize assets and allow concessions in order to reduce sovereign debt obligations owed by Greece and create jobs. Foreign investment in real estate development or infrastructure concessions could contribute to Greece’s gross domestic product.

The assets and rights owned by Greece can be summed into three categories

  • Shares (Listed or Unlisted)
  • Rights (Licenses or Concessions)
  • Real Estate Property (Land or Buildings)

Created on July 1, 2011, the Hellenic Republic Asset Development Fund (HRADF) exists to facilitate Greece’s privatization policy and execute transactions.

According to the website, “The Fund is a “societe anonyme”, of which Hellenic Republic is the sole shareholder with a share capital of €30 million. The Fund is not a public entity and is governed by private law. The assets transferred to it by the State do not form part of its share capital.”

The goal is to maximize the proceeds to the country of Greece. Projected proceeds to the HRADF hope to total €50 billion. This is the amount the government of Greece has put on the total market value of commercially exploitable assets. About 70% of the €50 billion is mostly in real estate. The HRADF is targeting long-term active investors with significant risk appetite for the Greece privatization plan. By 2014, the HRADF hopes to sell virtually all Greek corporate and state monopolies, leaving key infrastructure assets under public control. With regards to real estate investments, the HRADF is targeting developers and other institutional real estate investing vehicles.

Saudi Aramco and PIF See Opportunities in Russia

Published

on

Saudi Arabia’s Public Investment Fund (PIF) is currently exploring opportunities within Russia. PIF is working with the Russian Direct Investment Fund (RDIF) on a number of fronts. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

HNA Group Aims to Shrink and Sell

Published

on

Chinese conglomerate HNA Group is on a selling spree due to an order from the government in Beijing to scale back on debt. HNA Group joins Anbang Insurance Group and Dalian Wanda Group in deleveraging from global assets, particularly in hotels and real estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Central Bank of Hungary Buys Mounds of Gold

Published

on

In October, the Central Bank of Hungary (MNB) boosted its gold reserves by 10 times, from 3.1 tons to 31.5 tons. This was revealed on October 16, 2018. The gold acquired by the central bank in October has a holding value of US$ 1.24 billion.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.