BUSINESS

Greece, Paneuropean oil agree to divest 50.1 percent in Hellenic Petroleum

TAGS: Business, Energy

Greece and Paneuropean Oil and Industrial Holding have agreed to divest a combined 50.1 percent stake, at least, in Greece’s biggest oil refiner Hellenic Petroleum.

A memorandum of understanding was signed on April 3, Hellenic Petroleum said in a bourse filing.

The move paves the way for Athens to conclude one of the most lucrative stake divestments under its three international bailouts since 2010. [Reuters]

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