ECONOMY

Two consortia approved for Hellenic Petroleum bids

two-consortia-approved-for-hellenic-petroleum-bids

Greece on Monday approved two consortia to submit final bids for a 50.1 percent stake in its biggest oil refiner Hellenic Petroleum, its privatizations agency said.

The consortia are: Glencore Energy with a unit of the US-based Carlyle Group; and Vitol Holding with Algeria-based Sonatrach.

Glencore and Vitol had already been short-listed last summer.

[Reuters]