Auctions for the assets of the Naftemporiki - Panos Athanasiadis SA group, which among others, publishes a six-day-a-week financial newspaper and operates the Naftemporiki.gr site, was concluded on Wednesday, with two winning bids accepted for separate assets - together totaling 11.15 million euros.
Auctions for the assets of the Naftemporiki - Panos Athanasiadis SA group, which among others, publishes a six-day-a-week financial newspaper and operates the Naftemporiki.gr site, was concluded on Wednesday, with two winning bids accepted for separate assets - together totaling 11.15 million euros.
Three separate auctions were held for the company's assets, including properties.
The firm Cairo Do Value was the highest bidder for the group's properties, with the winning offer reaching 4.15 million euros. Lesser offers by two other suitors were 2.3 million euros and two million euros.
The second auction for the group's media operations saw the highest offer tabled by the company Ζοfrank Holding Co. Ltd., namely, seven million euros. The assets on the auction block of the latter were the historic "Naftemporiki" newspaper, representing Greece's oldest and best-selling financial daily, along with the award-winning website naftemporiki.gr, a modern printing press in the Koropi municipality, east of Athens proper, and the newspaper's extensive archives.
The second highest bid was 3.857 million euros, tabled by the Alter Ego group, a rival media company based in Athens.
No bid was submitted in a third auction for the small subsidiary Pestaola Media.
Interested buyers were required to submit sealed binding offers opened before a special liquidator, with the offer accompanied by a letter of guarantee equal to the bid price.