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Greece sets new deadline for TrainOSE and ROSCO privatisation

The Board of Directors of the Hellenic Republic Asset Development Fund (HRADF) has decided to amend the schedule for the international tenders regarding the sale of 100% stake in TrainOSE and EESSTY (ROSCO).

HRADF has received requests from three potentially interested investors of TrainOSE to extend the deadline for submitting the Expression of Interest, initally set for 3/21/2016. The new deadline for submitting the Initial Interest is 04/15/2016 and  for the Binding Offers is 05/31/2016. TrainOSE provides traction services for the rail transportation of passengers and freight, the development, organisation and exploitation of urban, suburban, regional, extra-urban and international railway transportation of passengers and freight, as well as bus transportation, combined transportation of passengers and freight and the provision of logistics services.

For rail carriage maintenance company EESSTY (ROSCO), HRADF received a request from an interested investor in order to extent the date for submitting Binding Offers (03/28/2016) on the grounds that the agreement between the Greek government and Institutions should be completed and two critical bills, tax and social security & pension reforms be approved by the Greek Parliament, which affect the financial bids to be submitted. The new deadline for the EESSTY (ROSCO) Binding Offers is 05/31/2016.

The process to privatise TrainOSE and Rosco was lauched in 2013. At the time, HRADF received firm expressions of interest from SNCF, Russian Railways (RZD) – GEK Terna, Grup Feroviar Roman (part of Grampet Group Romania) for a 100% stake in the operator. Alstom, Siemens and RZD-GEK Terna consortium expressed an interest in acquiring Rosco. 

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