TRAFIGURA GROUP

Mid-October bidding deadline for assets leased to Larco

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Privatization fund TAIPED will, according to sources, set a mid-October deadline for binding bids concerning the privatization of the Larymna smelting plant, the Larymna and Loutsi mines and relevant mining rights and other assets owned by the Hellenic Republic and currently leased to “LARCO General Metallurgical & Mining Company S.A.” (LARCO).

Six interested parties are participant in the tender. These are:

  1. COMMODITY & MINING INSIGHT IRELAND LIMITED
  2. GEK TERNA S.A. – AD HOLDINGS AG
  3. MYTILINEOS S.A.
  4. SOLWAY INVESTMENT GROUP LIMITED
  5. THARISA PLC
  6. TRAFIGURA GROUP Pte Ltd

Appraisal of initial bids for Larymna assets lease contract by April

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Privatization fund TAIPED and a supporting body are expected to complete, by early April, their appraisal of non-binding expressions of interest submitted to a tender by six investors for the lease of the Larymna smelting plant, Larymna and Loutsi mines, and relevant mining rights and other assets, all belonging to the Greek State and currently leased to troubled nickel producer Larco.

Expressions of Interest were submitted by the following Interested Parties (in alphabetical order):

  1. COMMODITY & MINING INSIGHT IRELAND LIMITED
  2. GEK TERNA S.A. – AD HOLDINGS AG
  3. MYTILINEOS S.A.
  4. SOLWAY INVESTMENT GROUP LIMITED
  5. THARISA PLC
  6. TRAFIGURA GROUP Pte Ltd

The six bids are currently being examined by the country’s foreign and defense ministries for any possible national security issues, sources closely monitoring the overall procedure have informed.

Once past this stage, the supporting documents accompanying the six non-binding offers will be examined by TAIPED and its supporting body.

Qualifiers making the tender’s second round will be given access to a video data room containing technical and financial data on Larco.