According to a statement by the Ministry of Public Finance, the contract signed with the interested companies stipulated that the prices offered by the companies cannot be disclosed since they are confidential. Bidding companies will be granted access to the data room for another week and a series of discussions with every interested financial company will be held on the final offers.
The privatization commission decided on Monday that all the seven interested companies have fulfilled the conditions for participating in the second stage of the sale process. The financial institutions bidding in the CEC privatization are Banca Monte dei Paschi di Siena S.p.A., EFG Eurobank, National Bank of Greece, OTP Bank, Raiffeisen Zentralbank Oesterreich Aktiengesellschaft in consortium with Raiffeisen International Bank – Holding A.G, Dexia and Erste Bank.
Banking sources stated that the price will represent between 70% and 90% of the main criteria in choosing the future investor. If the difference between the first two selected companies is smaller than 10% for the points received for the offers made, the privatization commission will require the top two competitors to improve their offers.
