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Portugal set to make asset sale target

27 December 2012

Portugal is reportedly set to beat its privatisation revenue goal by selling airport operator ANA to French construction firm Vinci in a deal worth about 3 billion euros. Lisbon is under pressure to get the most it can from state-owned asset sales after it agreed to raise 5.5 billion euros by the end of 2013 as part of a 78 billion euro bailout agreement with the troika of EU/IMF lenders, which also included across-the-board tax hikes and spending cuts.