BUSINESS

Greece launches tender to sell DEPA Infrastructure

TAGS: Energy

Greece's privatization fund (HRADF) οn Μonday announced it is launching a tender for the sale of gas distribution network DEPA Infrastructure, with the state and Hellenic Petroleum both selling their stakes in the jointly owned operation.

Having emerged from its third international bailout last year, Greece had agreed to sell gas utility DEPA under an agreement with its European lenders and the International Monetary Fund to help to open up the gas market.

Parliament last month passed legislation to break up DEPA, paving the way for the sale of the state’s 65 percent stakes in DEPA Infrastructure and gas supply company DEPA Commercial.
Hellenic Petroleum holds the remaining 35 percent of both companies and had signalled that it could divest its stake in DEPA Infrastructure.

News of an imminent sale was reported by Reuters earlier on Monday.

Deadline for expressions of interest expires on Feb. 14, 2020, the tender document shows.

Meanwhile, the tender process for the state’s 65 percent stake in DEPA Commercial is expected to begin in January, two sources told Reuters.

[Reuters]

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