Greece, Paneuropean to sell minority stake in Helleniq Energy - source

HELLENiQ ENERGY Holdings

07/12/2023 09:01

ATHENS, Dec 7 (Reuters) - Greece and Paneuropean Oil &
Industrial Holdings were expected to sell around a combined 10%
stake in Greece's biggest oil refiner Helleniq Energy  HEPr.AT 
via a book-building process on Thursday, a source from the
country's privatisation agency said.
    Paneuropean Oil, owned by the Latsis family, now holds 47%
in Helleniq, with Greece's privatisation agency HRADF owning
35.5%. The rest of the shares are publicly traded. 
    "The books for the private placement of a stake of about 10%
will most probably open and close today," a senior HRADF
official told Reuters on condition of anonymity.
    The Latsis family was not immediately reachable for a
comment.
    HRADF told Reuters in October it was exploring ways to
monetise its listed holdings, such as Helleniq Energy  HEPr.AT ,
via capital markets. 
    Greece tried to sell a majority stake in Helleniq in 2019
but failed to attract any bids.

 (Reporting by Angeliki Koutantou; Editing by Jan Harvey)
 ((angeliki.koutantou@thomsonreuters.com; +30 2102214608;
Reuters Messaging: angeliki.koutantou.reuters.com@reuters.net))