Glencore, Vitol Holding continue in second phase of HELPE sale


Greece's privatization agency (TAIPED) disqualified on Tuesday three out of the five investment groups which had expressed interest in acquiring a majority stake in Greek refiner Hellenic Petroleum (HELPE), leaving Glencore Energy UK and Vitol Holding B.V. in the second round of the tender.

The agency's board rejected Alrai Group Holdings Limited, a consortium comprising Carbon Asset Management DWC-LLC and Alshaheen Group, and the Gupta Family Group Alliance, saying the groups “did not meet the criteria to participate” in the second phase of the sale.

TAIPED, Paneuropean Oil and Industrial Holding are jointly selling at least 50.1 percent in the refiner, as part of the country's asset sales program.