The process of selling the mines and the LARCO plant is taking place as part of a new round of competitive bids. Non-binding financial offers were printed yesterday Thursday, both in terms of TAIPED, and, in particular, the lease of a plant in Larymn, as well as a special administrator for the sale of mines. First, bids for mines were opened by a special administrator, and then for a factory in a parallel tender conducted by TAIPED. In the mining tender, Irish Commodity & Mining Insight Ireland was reportedly the highest bidder, albeit by a small margin, and the second was GEK TERNA’s joint venture with AD Holdings AG. Only GEK TERNA – AD Holdings has applied to participate in the TAIPED competition.
How will the process of selling mines and factories go.
However, the tender architecture entitles all bidders to bid for both assets. Thus, since the Commodity & Mining Insight offer is the highest in the special administrator’s tender, it is eligible to submit a bid for the plant leased by TAIPED and enter into a competitive process with the GEK TERNA – AD Holdings scheme, which in turn has the potential to improve both of its bids. . This process is expected to take place in the coming weeks after approval by the competent Ministries of Energy and Finance. As a reminder, the conditions for holding an international tender are determined by the Joint Decision of the Ministers of Finance and Energy and the Environment (Government Gazette 5254 / 28.11.2020), issued in accordance with Article 21 of Part 11 of Law No. 4664 / 2020 (Government Gazette A΄ 32 / 14.02. ), in accordance with decision no. C (2014) 1818 final/27.03.2014 Directorate General for Competition of the European Commission (DG Competition).
The Board of Directors of TAIPED, upon printing the financial proposal submitted by the GEK TERNA – AD Holdings AG consortium, announced that “it will immediately inform the relevant ministries of finance and environment and energy about the financial proposal of the consortium scheme in order to obtain their approval and proceed with the announcement of the preferred investor and activation bidding process on both sides, if necessary”.
Source: Kathimerini
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.