Hellenic Republic Asset Development Fund (HRADF) on Wednesday announced an invitation to hire a financial advisor for the sale of its equity stakes in Athens Water and Sewage and Thessaloniki Water and Sewage.

HRADF said the Hellenic Republic owns a 34.03 pct equity stake in Athens Water, HRADF a 27.3 pct stake, with 9.9 pct owned by John Paulson and the remaining in the Athens Stock Exchange. HRADF owns a 74 pct equity stake in Thessaloniki Water, Suez Environment Company owns 5.0 pct and the remaining stake is in the stock market.

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