ECONOMY

Greece to seek improved bids for DEPA Infrastructure

greece-to-seek-improved-bids-for-depa-infrastructure

Greece’s privatization agency TAIPED on Thursday unsealed two binding offers for the state-controlled gas distribution network, DEPA Infrastructure, and will ask bidders to increase their financial offers, it said.

The agency has received two binding bids from Italgas SpA and Czech company EP Investment Advisors for the utility.

It didn’t disclose the size of either offer.

Greece and its biggest oil refiner, Hellenic Petroleum, are jointly selling their respective stakes of 65% and 35% in DEPA Infrastructure. [Reuters]