"Significant" Interest in Privatization of DEPA

The Hellenic Republic Asset Development Fund has announced the completion of the pre-qualification stage for expressions of interest in the privatization of the Public Gas Corporation S.A (DEPA S.A.) and its subsidiary the Hellenic Gas Transmission System Operator (DESFA S.A.).

HRADF noted that there was significant international investor interest was expressed by 17 investors originating from 12 countries, 7 outside Eurozone. Investors expressed interest in DEPA and DESFA separately and in the DEPA/DESFA Group.

Costas Mitropoulos HRADF’s Chief Executive Officer said: “This level of interest is a clear indicator of the value of Greek assets and a vote of confidence in Greece post PSI. The spread and quality of participants in the tender guarantees competition.”

The agency will evaluate the fulfillment of legal and financial conditions of each candidate and will announce which qualified interested parties will be invited to submit their indicative offers.

DEPA Group is active in the wholesale, trading and supply of natural gas to large customers through the parent company DEPA S.A. Through DESFA S.A., the DEPA Group owns and operates the regulated high pressure gas transport network and LNG re-gasification facilities in Greece.

Through its 51% ownership of the regional distribution and supply companies, the DEPA Group is also active in the distribution and supply of natural gas to residential customers and SMEs. The DEPA Group is also active in key international transit pipeline projects such as the Greece-Italy Interconnector, Greece-Bulgaria Interconnector and South Stream.