The Hellenic Republic Asset Development Fund (HRADF) οn Μonday launched an international public tender process for the joint sale, along with Hellenic Petroleum SA, of the 100 pct in the share capital of DEPA Infrastructure SA, a company which will be incorporated by means of spin-off of DEPA’s distribution gas branch from DEPA, according to ANA.
Currently, HRADF controls a 65 pct stake of DEPA’s share capital and Hellenic Petroleum SA the remaining 35 pct. Following the incorporation of the new entity DEPA Infrastructure S.A., HRADF and Hellenic Petroleum will each hold their shares and act as joint sellers. Τhe tender process will be held in two phases: pre-selection and binding bid submission. HRADF invites candidate investors to express interest on February 14, 2020.
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