com/204280/article/ekathimerini/business/admie-to-remain-under-state-control-creditors-have-agreed) agreed to spin off ADMIE , which manages the national electric power grid, from the state's Public Power Corp.
We're pulling off significant wins in this negotiation, like keeping ADMIE under state control," Tsipras told Parliament.
Under its latest EU/IMF bailout, Athens has agreed to start the privatisation of ADMIE in October or find alternative ways to open up its electricity market.
Greek Energy Minister Panos Skourletis told Greek Real FM radio that ADMIE should become a state-owned independent entity with its fixed assets remaining under the ownership of PPC.
Under the Brussels deal, Greece committed to selling ADMIE unless replacement measures that would open up competition in the market can be found.
Newly appointed Energy Minister Panos Skourletis said last week the state should take over ADMIE due to its strategic importance and the government would look to alternatives to privatising it.
The government has already said it will cancel the sale of a stake in Greece's two biggest ports, Piraeus and Thessaloniki, and in power grid operator ADMIE
Global law firm Norton Rose Fulbright has advised the Hellenic Republic on the ownership unbundling of the Greek power grid operator, ADMIE, from the Public Power Corporation (PPC), and the partial privatisation of ADMIE through the sale of a 24% interest to the State Grid Corporation of China (State Grid).
The transaction entailed PPC divesting a 24% interest in ADMIE to State Grid for 327.