Greece: Second round for DEPA Trade bidders

, SEE Energy News

Seven bidders reached the second round. Greek state privatization fund TAIPED announced a shortlist of the second round qualifiers in a tender for the sale of 65 % stake in DEPA Trade, one of two entities emerged from the Public Gas Corporation (DEPA) pre-privatization split.

Last month, Greek authorities said that the privatization process of the two entities derived from the Public Gas Corporation – DEPA Infrastructure and DEPA Trade, will continue after the summer as a result of an impact of the coronavirus pandemic on global economy and investment climate.

A total of seven bidders have been invited to the second, binding round of the DEPA Trade privatization tender:

C.G. Gas Limited of Greek Copelouzos group;

Consortium of Hellenic Petroleum and Italian Edison;

GEK Terna;

Consortium of Motor Oil and Public Power Corporation (PPC);

Mytilineos Group;

MET Holding;

Shell Gas.

Following the signing of the confidentiality agreements, the invited interested parties will receive the documents for the binding phase and will be granted access to the virtual data room, where data and information related to DEPA Trade are uploaded.

Oil refiner Hellenic Petroleum (ELPE) holds the remaining 35 % stake in the gas utility. The state and ELPE have agreed that if the company does not acquire the state’s 65 % stake, it will sell its remaining holding to the preferred investor, which will then own the whole company.