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CRA helps Olympic Airlines obtain approval to go private

On 17 September 2008, the European Commission approved a plan to privatise Greece's state-owned flagship carrier Olympic Airlines, as well as the separate ground-handling company Olympic Airways Services.

A key feature of the Commission's decision, important for future cases, is the conclusion that sale of Olympic's assets as a bundle, rather than piece-meal, does not involve any state aid. The Commission specifically accepted that the proposed bundled sale of Olympic's assets was in effect equivalent to any other type of asset sales on market terms, and this paves the way for the assets to be privatised in bundled form. A CRA team composed of Cristina Caffarra, Lorenzo Coppi, Valter Sorana, Matt Tavantzis and CRA academic consultant Pierre Régibeau prepared an economic report on behalf of Olympic showing that the proposed sales of bundled assets was on market terms.

See Commission Press Release

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