in one of the most scandalous affairs of all time evolves the financing interest company of the turkish tycoon Rahmi Kochof recovery fund from the EU
But how do we get the Recovery Fund to boost investment in Greece? turkish investor and indeed with warranty of the Greek state and on loan funds from Greek banks?
The tangle of history in which he has an active participation Kyriakos Mitsotakisseems to have started to fall apart Wednesday, June 6, 2018…
“The mysterious gentleman in the hat (Panama type), with blue mirrored glasses (despite his age, he is 83 years old), with a summery blue linen jacket and matching orange pocket square and tie that arrived at Parliament on Wednesday morning in a beastly jeep (and a second companion) was none other than richest turkish businessman. He went to Parliament to meet a single politician. Kyriakos Mitsotakis waiting for him in his political office in Parliamentshortly before leaving for the EPP meeting in Munich, where he would also meet Merkel. HE Rahmi Kocs, who runs the Koc Group (included in the club of the 50 most powerful on the planet), with a fortune of 10 billion dollars, saw Mr. Mitsotakisbut what was discussed between them was not revealed…
But what did the Turkish billionaire want from Mr. Mitsotakis? I learn that Mr. Kots knew the father of ND President Konstantinos Mitsotakis very well. and wanted to talk to Kyriakos Mitsotakis about his investment plans, as he seems to be buying a car rental business. I should note here that the Koc group acquired it 2005 together with Shell 51% of the Turkish state company of oil, instead of 4,000 million euros”.
This is what TO VIMA wrote on 6/6/2018, in an article titled: “What did the richest Turk want in Kyriakos?”
- For the record… we remind you of the following image:
- But let’s see what happened 4 years laterin November 2022:
Eight businesses of tourist interest joined the first round of financing of the recovery fund. All five refer to hotels, two others the two main car rental companies in Greece and one more cabotage navigation. These are investment projects with a total budget of 607 million. 50% of which have been financed with low-interest loans from the Fund and, for the most part, 30% from commercial banks and 20% with own funds.
By far the biggest investment plan is from Avis or Olympic Commercial and Tourist Enterprises for the supply of a fleet of electric and plug-in hybrid vehicles in order to acquire rolling stock for clean urban transport. Its total budget amounts to 400 million and has been financed by two different commercial banks in addition to the Recovery Fund. (DAILY)
But who is he Avis or Olympic Commercial and Tourist Companies and Who is the boss;
- Look at these financial statements of the company for the 2021…
From the above it follows that The main shareholders with a percentage of 100% are the company Otokoç ABG Holland BV of the Otokoc group… OTOKOC Automotive belongs to the Turkish group KOC and constitutes the activity of the group in the automotive sector from marketing to rental….
- This follows from EU document:
“The transaction relates to the proposed acquisition by Otokoç ABG Holland BV (a company registered in the Netherlands) of the entire issued share capital of Olympic Commercial and Tourist Enterprises SA (a company registered in Greece) of Piraeus Bank SA (a company registered in Greece).
Otokoç ABG Holland BV is a joint venture between subsidiaries of the business groups of Avis Budget Group Inc (company registered in the United States) and Koç Holding AS (company registered in Turkey). Otokoç ABG Holland BV has been established to own the shares and operate Olympic Commercial and Tourist Enterprises SA Koç Holding AS is an investment holding company based in Türkiye operating in a variety of sectors, including energy, consumer durables, automobiles, and finance».
- Could the Recovery Fund money end up in Türkiye? Of course.
According to bankingnews.gr (11/06/2022):
“The answer cannot be known in the case of AVIS, which has adhered to the Recovery Fund for the amount (total through two programs) of 400 million euros for the supply of a new fleet of which same participation will be 20% or 80 million euros…
Essentially, through the Fund, the investment in Greece is being strengthened by a Turkish investor, and in fact with loan funds from Greek banks.
This can also be positive if, of course, it is ensured that the investments will actually bring benefits to Greece, which will be more than those that will arise for Turkey since, for example, one could buy cars that are produced in Türkiye and by companies that may be investors or COC group.
In other words, let’s have the Giannis partying and Giannis drinking phenomenon and the big winner of the Recovery Fund is Turkey. Besides this, one question is how it will be verified if the cars to be bought will remain in Greece or if they will be in the occupied territories in Cyprus or in other countries where OTOKOC operates.».
The only certainty is that AVIS de Kots, with the 60% it owns, took 200 million euros from the Development Fund and banks…