Greek shipowner Vangelis Marinakis has submitted the highest bid for the troubled Lambrakis Press Organization (DOL), with his offer reaching 23 million euros.
Greek shipowner Vangelis Marinakis has submitted the highest bid for the troubled Lambrakis Press Organization (DOL), with his offer reaching 23 million euros.
Offers were unsealed on Wednesday in Athens in a sale process initiated by DOL's creditors, primarily Greek banks.
The previously ASE-listed DOL group publishes the Athens daily “Ta Nea” and the Sunday weekly “Vima”, two of Greece’s most historic newspapers. Several other subsidiaries, all mostly loss-making and debt-laden, are included.
Beyond shipping, Marinakis also owns the Olympiacos Piraeus pro football club, this season’s Greece champions, and recently purchased iconic English side Nottingham Forest in a deal British media said reached almost 50 million UK pounds.
A total of four bids were submitted, including one by a company controlled by Russian-Greek investor Ivan Savvidis.
DOL’s real estate assets were sold off separately, with an Alpha Bank-affiliated subsidiary tabling the highest bid, worth 3.78 million euros.