The contract includes two interrelated workflows, the Financial Advisor and Technical Advisor, which will run concurrently in each project phase.
Phase A: Understanding, planning, transaction preparatory actions (Conceptual design and pre-marketing).
Phase B: Default candidate investors (Prequalification).
Phase C: Binding offers, negotiations, conclusion - closing the transaction (Binding offers, negotiations and closing).
The object of this Declaration concerns the Preservation of buildings (facilities, asset and personnel of the Corporation), through uniformed manpower Departmental Units of the Corporation.
Highlighting Execution Contractor Business drydocking / repair of floating dock No. 3 NK.
In the framework of the Privatization Programme of the Hellenic Republic, the HRADF is seeking to employ a specialized and highly experienced Financial Advisor (‘Advisor’), who fully understands the operational, commercial, financial and transactional dynamics and drivers of motorways in Europe and particularly in Greece in order to offer its assistance during the preparation and execution of a Concession Contract with respect to the right to operate, maintain and exploit the Egnatia Motorway and three vertical axe, as foreseen in the abovementioned Privatization Porgramme.
1. The Duration of the engagement shall be twenty four (24) calendar months or until Transaction close (whichever event occurs first).
2. The Scope of Work will include the following:
2.1 During the Preparatory Period (inter alia):
2.1.1 Review any relevant available data including all existing historical financial, strategic and operational work done to date relating to Egnatia Odos SA (‘EOSA’) and the Motorway, any information memoranda, studies, reports, business plans, traffic models and forecasts relating to the Motorway and more particularly the infrastructure, operation, maintenance, investment, services offered, tariffs, existing tolling system and Policy applied etc. Review and assess the current status and prospects of the Motorway;
2.1.2 Determine the value of future toll revenues and other economic rights accruing to the HRADF from the Motorway (also assessing possible future implementation of an electronic free flow tolling system to the Motorway);
2.1.3 Assess the strategic, business and financial options available to the HRADF in connection with its
Privatisation objectives to assign a new concession contract of the Motorway. Determine and structure the best available Privatisation option for the HRADF that will maximize value and attract potential investors.
2.1.4 Develop, along with the HRADF's other advisors, and regularly update the appropriate financial forecasts and models as well as perform valuation and financial analysis (including sensitivity analysis) required for the implementation of the Transaction;
2.1.5 Identify the universe of potential investors, explore and evaluate potential interest for the Project;
2.1.6 Design, prepare and coordinate, together with HRADF's other professional advisors, all necessary
procedures required for the implementation of the tender and the Transaction such as, indicatively, vendor due diligence process, data room establishment and administration, preparation and coordination of presentations by the Management of EOSA to potential investors with regard to the Project, coordination and preparation of site visits by investors to the Motorway, any other action required in relation to the proposed course of action to implement the Transaction;
2.1.7 In conjunction with the HRADF's legal advisors, liaise with relevant regulatory bodies, as well as assist in examining the financial implications of any possible competition and state-aid issues identified by the HRADF's legal advisors;
2.1.8 In conjunction with the HRADF's legal and technical advisors, liaise with the DG Mobility and Transport (‘DG Move’), and provide any required financial input for the notification to be submitted by the Hellenic Republic, justifying the proposed tolling system model for the Motorway;
2.1.9 Together with HRADF's other advisors, assist in collecting necessary Government approvals and/or other approvals from European Institutions as are deemed necessary in relation to the Transaction.
2.1.10 Together with HRADF's other advisors assist in designing appropriate specifications of an electronic Free flow tolling system for the Motorway that will allow interoperability with the other Motorways in Greece.
2.1.11 Design, coordinate and assist in the negotiation, in conjunction with HRADF's other advisers, of a full framework and specific terms that will allow at the time of Transaction completion for the roll-over of the outstanding Bond Loan of EOSA to Piraeus Bank (‘Bank’) to the new concession/concessionaire.
2.1.12 In conjunction with HRADF's other advisors, submit a recommendation to the HRADF in respect to the Transaction, which will include, among other things, a set of options and the Advisors' recommendation from a strategic, business, financial and operational point of view, in relation to the proposed course of action for the
HRADF to consider relating to the Transaction taking into account, inter alia: value maximization, infrastructure complementarity, investor interest optimization, the need for an efficient and effective motorway network, the appropriate levels of tolling on the motorway network, roll over of the existing Bank Bond Loan etc.; prepare and present the optimal Transaction structure with its key assumption parameters and respective time-lines for its execution(the ‘Recommendation’);
2.2 During the Implementation Phase (inter alia):
Assist, in co-operation with any other professional advisors, in the co-ordination of the Transaction process from initial preparation to the final negotiation and consummation of the Transaction, which may include, but is not limited to, the following:
2.2.1 Advise and where appropriate assist the HRADF to develop the appropriate sell story, identify any key potential investor requirements, attract proposals, offers or bids from potential investors, assess any such proposals, offers or bids and advise the HRADF on their relative merits;
2.2.2 In conjunction with HRADF's other advisors where appropriate, evaluate from a financial/business point of view any proposal made by any potential purchaser/investor, and submit their written recommendations to the HRADF;
2.2.3 Work with the HRADF's other professional advisors to prepare any and all customary documentation and organize all relevant procedures required for the Transaction (including but not limited to, Invitation for the Expression of investor Interest, Request for investor Proposals, draft Concession Agreement, review the traffic model and the financial model of the Motorway, assess the business plan of EOSA, assist in the preparation of a set of documentation to effect the Bank Bond Loan roll over etc.);
2.2.4 Plan the negotiation strategy, co-ordinate and participate in the negotiation team in the discussions with the Bank, assess the financial terms proposed by the Bank, produce terms customary for refinancing that may be proposed to the Bank, formulate and propose appropriate conditions of the Transaction documents and assist legal advisors in drafting the relevant parts of such loan roll over documentation;
2.2.5 Prepare and conduct, together with the HRADF's other professional advisors, and perform all other customary services for the successful consummation of the Transaction and (if so required) the rollover of the bond loan agreement;
2.2.6 Assist and advise the HRADF in relation to the closing of the Transaction and the fulfilment of any conditions thereof.
2.2.7 Provide to the Board of Directors of the HRADF any required presentations and recommendations justifying the proposed course of action in the different steps of implementation of the Transaction up to Closing;
For more information please visit: http://www.hradf.com/en/egnatia-motorway