Hello there, one of the asset declarations published yesterday, that of MP Pavlos Sarakis, makes it crystal clear that the Novartis affair, apart from being a first-class political setup, was also a very lucrative business for those who got involved… they jumped into the fire, perjured themselves, but in the end they cashed in big, and legally too, so they could declare it to the tax office and even include it in their asset declarations. At first, the impression (we wrote it yesterday) was that Sarakis had made 30 million euros, but in the end he got… only 18 million euros from the U.S. government because the rest was split among the “accomplices,” who were paid to… tell the truth if there were “bribes and kickbacks,” but as the court later found, they lied under oath. These guys were paid to lie and get rich, while the instigators? Vanished, right? A small detail: the politicians who acted as the instigators were acquitted under New Democracy’s government—just to have the full picture.

40 million bonus

• Let’s move on to daily life: today’s Cabinet agenda has many items, but one is especially interesting: the productivity bonus for civil servants in managerial positions, to be presented by Pierrakakis along with Livanios. I hear the budget line approved concerns about 25,000 civil servants, totaling around 40 million. Per person, that’s a bit over 1.5 grand—not exactly pocket change.

The pillars of legal migration

• Also in today’s Cabinet, the bill on Legal Migration prepared by Plevris-Voloudakis will be presented, with some groundwork already done under Keridis. I hear the bill includes major simplifications for residence permits, along with targeted measures to bring in legal migrants where needed (farmers, construction, tourism). There will be smart visas for highly skilled staff, students, medical-study visas. At the same time, strategic investments will provide a fast-track entry of migrants for legal work on a fixed-term basis. Also, asylum recipients will be placed in employment programs, since benefits will be significantly cut back.

Amyras’s civil partnership

• The process of publishing asset declarations also reveals marriages or civil partnerships, not just income and deposits. The news here is about ND MP Giorgos Amyras, who signed a civil partnership with his partner Vasilis Kyriakopoulos two years ago and disclosed it in his 2024 declaration (for the 2023 fiscal year). His partner is an architect by profession and generally a low-profile guy. Mr. Amyras returned to Parliament a few months ago, taking the seat of Kostas Tasoulas, who “moved” to the Presidency.

The rapprochement takes a stroll…

• The “fiery” op-ed by Chrysanthos Lazaridis (a close ally of Antonis Samaras) in Ta Nea, with its direct “attack” on K.M over foreign policy, can be seen as confirmation of the effort for M.M to reconcile with the former prime minister. After all, Samaras’s people were whispering in the background that K.M’s “opening” was only for show, an attempt to pass them the “losing card” if the ex-PM said “no” in the end. Judging from Marinakis’s response yesterday at the briefing, M.M seems to have decided to pick up the glove. I say that because the spokesman reminded everyone that K.M had been judged by the people and that the government chose to move forward with results, not with fake patriotic grandstanding. In the same tone was Makarios Lazaridis (on Real FM), who also reminded listeners that Samaras had once toppled an ND government.

Kefalogianni–Matsas

• Now you’ll tell me, what are you wasting your time on, man, when all of Greece is losing its mind over the “Bismpikiada”… but really, it’s not hard to understand the guy’s behavior, it’s exactly what people say: look at the face, draw your conclusions. Anyway, what impressed me much more was the courtroom catfight of a minister, Olga Kefalogianni, with her ex-husband. Personal issues are personal in divorces, I get it, but when you hold public office and have a public presence, maybe you watch your image a bit more—for yourself and of course for your kids. Why bring up things like “he had a mistress” as if we’ve gone back decades to when adultery was a criminal offense, or that the other one was treated like her little lapdog? Well then, call in the animal rights society… Generally, spite is glaringly obvious, and in any case, what’s the point of hatred and tearing each other apart in the alleyways when you’re a public figure?

Supermarket war: Lidl vs. Sklavenitis

• A relentless war has broken out in the supermarket sector, with Lidl, the market’s estimated number two (they don’t release figures), launching a frontal assault on the undisputed leader, the Sklavenitis chain. On the principle that expanding distribution channels increases sales, Lidl is moving in aggressively with financial offers wherever a Sklavenitis lease is expiring. There was even an informal contact between the two chains, with Sklavenitis protesting Lidl’s tactics, only to be told the orders came straight from Germany. The backstage drama of this ruthless commercial war for first place may also explain Sklavenitis’s heightened irritation at the recent €1.44m fine from the Ministry of Development, suspecting ulterior motives “because it concerned only 36 labels” and suchlike. Of course, the Ministry also fined Lidl €805k, which Lidl likewise took badly, because it “concerned only 32 labels,” etc.

Veolia buys a Greek company. Due diligence underway

• At a time when the government has made water management its top priority, French multinational Veolia is making its decisive move to gain a strong foothold in the Greek market. The first sign came with the founding of Veolia Services Greece S.A., based in Marousi, on March 20, 2025. A move that shows the multinational is no longer dabbling in rumors or MOUs but is establishing a presence here. Meanwhile, according to reliable sources, it is in advanced talks to acquire a majority stake in one of the most specialized companies in the waste and water management sector. With major facilities in and outside Greece and an estimated turnover this year of over €70m with €15m profit, the target is considered strategically significant. The fact that due diligence has already begun shows the deal is deep into the pipeline and only the final stretch remains. The move gains even more weight if one considers Veolia’s scale: in 2024, it employed around 215,000 people and posted €44.7bn in revenue, with €6.8bn EBITDA and a profit margin above 15%. A giant now turning again to Greece, at a time when water is emerging as a top political and economic issue, attracting the fierce appetite of all major Greek energy and business groups. It’s not the first time Veolia’s name has surfaced here—flirtations began in 2009 with an attempted joint venture with MIG, of Andreas Vgenopoulos. In 2020, today’s Deputy PM Kostis Hatzidakis, then Minister of Energy & Environment, visited Veolia’s facilities in France. Talks stalled back then; today, though, everything suggests the timing is ripe. If the deal closes, which looks very likely, it will be one of the most significant deals in Greece’s environmental services sector, bringing capital, know-how, and international experience. And here’s the key: Veolia isn’t looking to “build from scratch,” but to invest in an already established Greek company with proven strength in waste and water. Clever move by the French.

INTRALOT: express share capital increase

• And now that we’re done with the fights and deals, let’s go to INTRALOT’s capital increase, carried out at the cutting edge of the legislative framework. The increase (strongly backed by broker Astyfides, among others) is said in the market to begin tomorrow, Wednesday, and wrap up Friday. No prospectus approval was required for the increase, because the legal framework (1129/2017 and the Listing Act) was amended and now in certain cases no prospectus is needed, just an exemption notice. It’s an 11-page document with the basic issuance details. INTRALOT isn’t the first to use these provisions; IDEAL and Premia went before.

Product tanker orders for Latsco Shipping

• In the heart of shipping circles, there’s heated talk around Latsco Shipping of the M. Latsis family. The company is moving with new shipbuilding in South Korea. Dark Room knows for sure that medium-sized yard K Shipbuilding signed for two 50,000 dwt MR tankers, delivery in 2027, with an option for two more. Price? Around $50m apiece. The ships will be LNG- and methanol-ready, fully compliant with IMO Tier III regulations. The interest, though, isn’t just technical. The move comes as Marianna Latsis’s family considers moving its private product tankers into the fleet of Nasdaq-listed Euroholdings, which it controls. Such a scenario would shift the balance on the stock market board. Meanwhile, last Monday, the company also took delivery of another VLGC tanker from Hyundai.

AKTOR: To be continued…

• With successive deals over the past three years since Intrakat changed hands, the AKTOR group continues expanding its size impressively. After completing the acquisition of AKTOR Concessions, the group boosts its portfolio of concession and PPP projects to significant levels while securing steady revenue. The aim is to be prepared for the period when Recovery Fund resources run out and construction projects generally shrink. Concessions are a growth pillar AKTOR is betting on, and word in the market is that group head Alex. Exarchou has mapped out further expansion steps to strengthen AKTOR in the concessions sector.

Anyone for… a casino?

• I don’t know if anyone’s in the mood to… open a casino, but I hear that next month there’s an auction coming up for such equipment. The massive gavel comes down on “Theros International Gaming Inc,” based in Cook County, Illinois, USA, known for operating the Rio Casino, represented by businessman Kostas Piladakis. The auction is set for October 30, 2025, initiated by 10 individuals (I suspect Rio Casino employees), after a seizure for €295,816.52. On the block: 14 American-made John Huxley roulette tables, in good condition, complete with all parts, starting at €1,000 each. Also, about ten Blackjack tables and four Stud Poker tables, likewise complete, also starting at €1,000 apiece. And of course, the famous slot machines—not two or three, but… 233 “in operation and in good condition,” spread throughout the casino. Their starting prices are €1,200, €1,400, and €1,600 (depending on type), totaling €324,200. Also included: one 8-seat Automated Roulette Omega model, working and in good condition, at €3,000, plus another 8-seat Alfa Street electronic roulette, also working and in good condition, again at €3,000. Reminder: as this column revealed last fall, the first auction for all this took place on November 13, 2024, but “was canceled due to lack of bidders.”