Lamda Development: First installment, signatures sealing Helleniko privatization in June

ATHEX-listed Lamda Development on Thursday pointed to a “matter of weeks” for the conclusion of an agreement to transfer the real estate shares for the Helleniko site to its possession.

The statement came during a video-conference with market analysts, and hours after a wide majority of Parliament MPs ratified the contract.
According to Lamda officials, “it’s only a matter of weeks before the emblematic project begins, as we will pay, within June, the sum that corresponds to the first installment, so that Lamda acquires the shares of Hellenikon S.A. for 300 million euros.”

The Athens-based developer, one of the largest in southeast Europe, said it has accelerated procedures in terms of studies and preliminary works.

One pending issue involves a forthcoming ruling by the Council of State (CoS) over a third and last appeal against the privatization.