BUSINESS

Six bidders short-listed 
for DEPA Infrastructure

TAGS: Energy, Business

Greece has short-listed six investors in the sale of its state-controlled gas distribution network DEPA Infrastructure, the country’s privatization agency said on Tuesday.

Investors picked to make binding bids in the next phase of the sale are: a consortium of SINO-CEE Fund and China-based investment holding company Shanghai Dazhong Public Utilities; EP Investment Advisors; First State Investments; Italgas SpA; and investment firm KKR and asset manager Macquarie.

Greece and its biggest oil refiner Hellenic Petroleum are jointly selling a 100% stake in the business to help open up the gas sector, part of an agreement between the country and its lenders after it exited its latest bailout in 2018.

“We are optimistic that the privatization of DEPA Infrastructure will be concluded successfully in the fourth quarter of the year,” Deputy Energy Minister Gerassimos Thomas said in a statement.

Qualified investors will be given access to data and the opportunity to visit sites before they submit binding bids.

[Reuters]

Online