HDW Emerges as Successful Bidder for Shipyard
Hellenic Industrial Bank (ETBA) was outperforming the Athens bourse on expectations it will soon sell its majority stake in Skaramanga shipyards, analysts said. ETBA, which owns 51 percent of Hellenic Shipyards Skaramanga, said it would start negotiations with German shipyard HDW Werft, which was the highest bidder in the privatization of the shipyard. ETBA shares were up 3.81 percent to 6.00 euros at 1102 GMT, outperforming the Athens bourse's benchmark general index, which was down 0.92 percent, and the banking sector index which was down 1.45 percent. "Procedures concerning Skaramanga are being sped up, and this could accelerate the privatization of ETBA Bank as well," said Costas Vergos, analyst at Magna Trust Securities.
Hellenic Shipyards Skaramanga To Go Private With HDW Werft
Hellenic Industrial Bank was outperforming the Athens bourse on Wednesday on expectations it will soon sell its majority stake in Skaramanga shipyards, analysts said. ETBA, which owns 51 percent of Hellenic Shipyards Skaramanga, said late on Tuesday it would start negotiations with German shipyard HDW Werft, which was the highest bidder in the privatization of the shipyard. ETBA shares were up 3.81 percent to $5.27, outperforming the Athens bourse's benchmark general index, which was down 0.92 percent, and the banking sector index, which was down 1.45 percent. "Procedures concerning Skaramanga are being sped up, and this could accelerate the privatization of ETBA Bank as well," said Costas Vergos, analyst at Magna Trust Securities.
