Greek daily news

Greek Daily News 07/03/2024

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ECONOMY

-The Hellenic Financial Stability Fund (HFSF) on Wednesday set the price for the sale of its 27% holding in Piraeus Bank at 4 euros per share, valuing the stake at €1.35 billion. Piraeus Bank is the country’s third largest lender.

-Hellenic Republic Asset Development Fund (HRADF) issued a call of interest for a majority stake sale (50%+1 share) in Lavrion Port Authority SA on Wednesday. The port of Lavrion is near popular tourist destinations such as the Cycladic Islands and the Athens International Airport, Greece’s busiest airport.

-In 2023, a total of 116 mergers and acquisitions (M&A) took place in Greece with a total value of €5.9 bn, according to a report by PwC Greece. PwC Greece is the top M&A financial advisor in terms of the number of deals in Greece for the second consecutive year and the top M&A financial advisor globally in terms of number of deals for the fourth consecutive year.

TOURISM

-Greek Tourism Minister Olga Kefalogianni told the international tourism exhibition ITB in Berlin that 2024 is expected to be another excellent year for Greece and Greek tourism, despite the difficulties in the international environment. The official had contacts with her political counterparts, chiefs of Lufthansa, Easy Jet, TUI, CONDOR, Jet2, and Jet2Holidays, DER (all of which include many Greek tourist destinations in their 2024 programs), as well as representatives of the media, AMNA reported.

-Greece’s goal to extend the tourism season is bearing fruit with some 9.3 million tourists visiting the country in autumn, marking a 6 percent rise over 2019, data released recently by the National Bank of Greece (NBG) reveal. Meanwhile, hotel sales grew by 7 percent during the period under review with the islands seeing a 6 percent rise, urban centers (+8 percent) and mainland Greece (+14 percent).

GENERAL

The scenic Odontotos’ rack railway in Western Greece is temporarily stopped until problems caused by landslides have been addressed, AMNA reported. The landslides are linked to natural disasters, such as wildfires and floods, that occurred in previous months.