Greece invites bids for state gas group DEPA

Greece invited bids for state-owned gas company DEPA on Wednesday as it moved ahead with a privatisation programme targeted to raise 19 billion euros by 2015.

According to an offer document, the government is inviting bids for the group on either a «bundled» or «unbundled» basis but it said it would in any case retain a 34 percent stake in gas grid operator DESFA.

DEPA is active in wholesale, trading and supply of gas to retail and industrial clients. Its wholly owned subsidiary DESFA operates a high pressure gas transport network and liquified natural gas facilities in Greece.

The deadline for bids is March 22.