State holdings now officially transferred to privatisations superfund HCAP, sources report

Following the recent legislation of the omnibus bill of prior actions, the state’s holdings in public utilities and other broader public-sector companies have now been officially transferred to the Hellenic Corporation of Assets and Participations (HCAP), Greece’s privatisation superfund, fund officials reported on Friday.

According to HCAP, its aim is to bring together all state assets, including participations in strategically important public enterprises, under a single structure and to promote new standards, capitalising on all the opportunities offered in modern times that will lead to reforming the management framework in ways benefiting the public interest.

The fund’s officials added that the targets set are high and require collective effort, transparency, credibility, responsibility, long-term planning, extrovertness and open communication to establish relations of trust with the management and staff of public-sector organisations.