Greek auditors unblock $1.2 bln state property sale -sources

ATHENS, Nov 7 (Reuters) - Greek auditors have unblocked a $1.2 billion sale of a prime seaside property at the abandoned Athens airport of Hellenikon, court officials said on Friday, freeing up Greece's biggest privatisation deal since its debt crisis. The auditors in September had blocked the sale of the property from privatisation agency HRADF to Lamda Development , which is backed by Chinese and Abu Dhabi-based firms, saying the tender terms violated the principles of transparency and equal treatment. The privatisation agency appealed the decision, and the auditors ruled on Friday that the tender met all the legal criteria, opening the way for the deal to go through, the court sources said on condition of anonymity. Completion of the sale could take up to two years because it must obtain a series of approvals, including the auditors' green light. Raising funds through privatisations is a major part of Greece's bailout agreement with the European Union and the International Monetary Fund. Athens has signed privatisation deals worth 5 billion euros ($6.2 billion) since 2011 and aims to reach cumulative proceeds of 9.6 billion euros by the end of 2016. (1 US dollar = 0.8046 euro) (Reporting by Angeliki Koutantou; editing by Jane Baird)