Hellenic Republic Asset Development Fundlogo (HRADF), Greece’s privatization agency, has issued an invitation for expresion of interest seeking for financial advisors to provide services for the sale of its 30 percent stake in Athens International Airport S.A. (AIA), the company in charge of the Eleftherios Venizelos airport concession in Athens.

HRADF has decided to evaluate a potential monetization of its stake in the airport and invites highly experienced financial advisors to submit a proposal to provide financial advisory services to for the transaction.

As we reported in February 2016, (HRADF), Greece’s privatization agency, requested the opening of talks with Athens International Airport S.A. (AIA) for a 20-year extension until 2046) of the Eleftherios Venizelos airport concession.

AIA was created in 1996 to develop, operate and maintain the airport under a 30 year concession contract. The firm is owned by Greek State (25%), HRADF (30%), the Canadian company AviAlliance GmbH (26.7% plus 8 shares), Canada-based AviAlliance Capital GmbH (13.3%) and the Copelouzos Group (5%).

Eleftherios Venizelos, Athens international airport, began operation on 29 March 2001 and is the primary international airport that serves the city of Athens and the region of Attica. AIA invested a total of €2.1 billion (US$2.3 billion) to develop tha airport.

Located between the towns of Markopoulo,Koropi, Spata and Loutsa, about 20 km to the east of central Athens, it is Greece's busiest airport and it serves as the hub and main base of Aegean Airlines as well as other Greek airlines. Its major features include two large parallel runways that are each approximately 4 km long.