The statement from the Ministry said that the privatization procedure can move ahead as planned because the aforementioned deadline has already been extended once and is non-binding, adding that extension requests are limited to a very small number of investors. However, Greek privatization fund TAIPED is concerned the coronavirus crisis could impact the sale and subdue bidding interest. Greek Ministry of Energy said that no further scheduling revisions are intended for the DEPA Trade privatization procedure, whose first-round deadline has already been postponed to 23 March.
In January, TAIPED launched the sale of a majority stake in state-controlled DEPA Trade, one of two entities established by the split of Public Gas Corporation. DEPA Trade carries out the supply of natural gas, both wholesale and retail. The Greek government is selling its 65 % stake in DEPA Trade as part of the terms of the country’s final EU/IMF bailout. Hellenic Petroleum (ELPE) holds the remaining 35 % stake in the company. The preferred investor will also have the option to purchase the outstanding ELPE stake. DEPA has been dominant importer of pipeline and liquefied natural gas via long-term supply contracts, and main gas supplier in Greece, with more than 350,000 retail customers in the wider Athens area.
Saturday, April 20
Trending
- Bulgaria: Electricity imports amounted to 11.6 TWh in 2024
- Slovenia: GEN-I to issue 50 million-euro green bond
- Bulgaria: OMV Petrom is looking for a new partner for the Khan Asparuh block
- Romania: Premier Energy announces 125 million euros IPO on Bucharest Stock Exchange
- Croatia: A consortium led by Daba Energy seeks EIA for three solar parks
- Romania: Transelectrica completed the Iron Gates – Anina – Resita transmission line
- Croatia: CROPEX – successful implementation of Spread block products on DAM
- Hungary: Oil production from a major offshore platform started