Houlihan Lokey Europe and Axia Ventures Group announced on Wednesday they have been jointly engaged as exclusive strategic advisers to the Hellenic Republic Asset Development Fund (HRADF) .
HRADF was set up in July to depoliticize the process of privatization in Greece.
It will run for six years with a mandate to sell, develop or liquidate real-estate assets, company shares and rights.
Houlihan Lokey and Axia are tasked with developing a strategy for the implementation of the privatization programme, in what will be the definition of a tough sell.
While negotiations over the second round of the eurozone bailout for the country grind on and private sector investors digest the likelihood of a more than 50% hit on their investments, selling off state assets remains uniquely exposed to headline risk.
As with all privatization programmes, it will come down to price.
Max Ziff, managing director and head of sovereign advisory at Houlihan Lokey, comments:
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