France's PPC Privatization Interest
French energy mogul Electricite de France has shown interest in the privatization of Public Power Corporation.
The French company met with leading Greek officials last week, who plan to sell a portion of the electric company, under the campaign coined: "Small PPC".
Prime Minister Antonis Samaras and EDF's CEO & Chairman Henri Proglio met in Athens, to discuss acquirement. It is predicted that EDF will make an indirect purchase, through its Italian Elpedison subsidiary.
According to Kathimerini, even the Hellenic government is surprised at France' attraction to the Greek market. The news portal reported that a governmental official stated, "[Proglio] arrived and presented a study on the synergies that an EDF entry into the Greek market would offer, and was well-informed about the situation of PPC's finances and the detailed privatization plan".
An EDF analysis determined that it would serve as a strategic investor and would purchase 30% of PPC's production quantity, i.e. "Small PPC". The French energy leader believes that PPC will still be a strong domestic market player, even at 70% capacity.
Related items
-
Tsipras's new party surges past PASOK to become Greece's leading opposition force
-
Shay Gal: The Hellenic Navy teaches Israel one hard lesson: how to read Turkish pressure through islands, straits, air-sea seams, and escalation thresholds.
-
Joint naval exercise between Greece and Cyprus off Larnaca and Limassol
-
Threats from Ankara for the French military presence in Cyprus: We have the power to give the strictest response
-
Beleris on incidents in Albania: Greek properties are being encroached on to build the hotel