Decision for Hellinikon within March

State real estate fund TAIPED has asked Lamda Development for an improved offer for the Hellinikon property deal, as it always does in such cases, with the decision expected by month's end.

TAIPED announced that in a joint conference with the Assessment Council it unsealed the assessment of the Independent Assessor for the sale of 100% of the shares of Hellinikon SA.

This was followed by the unsealing of the binding economic bid by Lamda Development, in the presence of company representatives.

The Financial advisers (Citigroup, Piraeus Bank), with the aid of TAIPED's expert councilor Happold Consulting, will proceed to assessing the rationale and legality of the final binding offer from Lamda Development, on the basis of internationally accepted assessment standards and processes ("fairness opinion").

Th board of TAIPED after taking into account all the above, as well as the report from the Assessment Council, will decide at a later council meeting whether to announce, or not, a preferred Investor, a process expected to be finalized by the end of March.