Greece Receives 9 Bids for Stake in Gas Supplier
ATHENS (Reuters) — Greece has received nine non-binding bids for the sale of a 65% stake in its dominant gas supplier DEPA Commercial, its privatization agency said on Monday.
Investors who have expressed an interest in the stake include Shell Gas, Vitol Holding, Power Globe, MET Holding and C.G. Gas Limited of Greece’s Copelouzos group, the agency said in a statement.
The other bidders are a joint venture of Hellenic Petroleum and Edison, a joint venture of Motor Oil and Public Power Corp, industrial group Mytilineos and contractor GEK Terna, it added.
The deadline for the submission of non-binding bids expired at 1500 GMT on Monday.
The Greek government is selling the stake as part of the terms of the country’s final bailout from the European Union and International Monetary Fund, to help open up the market.
Hellenic Petroleum holds the remaining 35% stake in the gas utility.
Athens and Hellenic have agreed that if Hellenic does not acquire the 65% stake, it will sell its remaining holding to the preferred investor, which will then own the whole company.
DEPA is Greece’s dominant importer of pipeline and liquefied natural gas via long-term supply contracts and its main gas supplier, with more than 350,000 retail customers in the wider Athens area.
After evaluating the offers, the agency will decide which investors qualify to submit binding bids.
Related News
Related News
- Williams' $1 Billion Gas Pipeline Blocked by U.S. Appeals Court, Derailing Five-State Project
- Texas Waha Hub Gas Prices Plunge to Record Lows, Hit Negative Territory
- Williams Begins Louisiana Pipeline Construction Despite Ongoing Legal Dispute with Energy Transfer
- U.S. Buys Nearly 5 Million Barrels of Oil for Emergency Stockpile
- U.S. Appeals Court Strikes Down Controversial Biden Pipeline Safety Rules
- Report: Houston Region Poised to Become a Global Clean Hydrogen Hub
- Exxon Mobil to Start Gas Reserve Seismic Surveys in Greece
- LaPorte, Texas, Issues Shelter in Place After Altivia Plant Leaks Toxic Gas
- Texas Startup Endeavors Again to Build First Major U.S. Oil Refinery Since 1977
- Second Gas Pipeline Rupture in Texas’ Reeves County Raises Environmental Concerns
Comments