CYPRUS: Strauss-Kahn’s LSK eyes bonds and privatisations

Former IMF chief and Chairman of LSK & Partners, Dominique Strauss-Kahn will submit proposals to the government relating to the island’s next bond issue and privatisations.

Polakis Sarris, a former Undersecretary to the President, whose law firm represents LSK told the Cyprus News Agency that Strauss-Kahn held a private visit in Cyprus last week and met with the Finance Minister Harris Georgiades.
“LSK is one of our clients, and have shown interest in the next bond issue and for the privatisations of the large state-owned organisations such as the Ports Authority, Cyprus Telecommunications Authority (Cyta) and the Cyprus Electricity Authority,” he said.
He added that during his three-day stay, Strauss Kahn held a two-hour meeting with Georgiades and had other private contacts.
“They (LSK) will submit a proposal on both issues (bond issue and privatisations),” Sarris noted, adding that in the meeting with Georgiades, “it was agreed to send their proposal three weeks from now and to arrange a new meeting.”
Sarris said that LSK & Partners shows “keen interest” in Cyprus which has satisfied the Cypriot government, adding that the Luxembourg-based firm, with representation in seven countries, has already proceeded with two investments in Cyprus via his law firm.
Last June, Cyprus returned to the international capital markets following its exclusion since May 2011 issuing a 5-year bond of 750 mln euros with a yield of 4.85%.