BUSINESS

Seven bidders shortlisted for gas supplier DEPA Commercial

TAGS: Privatizations, Energy

Greece’s privatization agency (TAIPED) said on Tuesday that it has shortlisted seven investors for the purchase of a majority stake in the country’s dominant gas supplier, DEPA Commercial.

Greece is selling a 65% stake in DEPA Commercial as part of the terms of the country’s final bailout from the European Union and International Monetary Fund, to help open up the market. TAIPED is handling the sale and the investors shortlisted can proceed to the binding offers’ phase.

The seven investor groups are a consortium of Hellenic Petroleum and Italy’s Edison International Holding, and a consortium of Motor Oil and Public Power Corporation as well as individual bidders Copelouzos Group Gas Limited; GEK Terna; Switzerland-based energy MET Holding; Mytilineos; and Shell Gas.

Vitol Holding and Power Globe, which had also expressed initial interest in DEPA Commercial along with the other seven bidders in March, were not on the shortlist.

The preferred bidder will also have the option to buy the remaining 35% stake in DEPA Commercial that Hellenic Petroleum owns if the latter doesn’t acquire the 65% stake. [Reuters]

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