Greece delays gas utility bid deadline to third quarter -sources

Motor Oil (Hellas) Corinth Refineries

22/03/2021 14:51

ATHENS, March 22 (Reuters) - Greece has delayed a bid
deadline for its dominant gas supplier DEPA Commercial until the
third quarter as a result of technical and other issues
resulting from the coronavirus pandemic, two sources close to
the matter said on Monday.
    The Greek privatisation agency last year shortlisted seven
investors for a 65% stake in DEPA Commercial and the deadline
for binding offers was due to expire this month.  urn:newsml:reuters.com:*:nL8N2DT1VC
    But that has been moved back until the third quarter over an
outstanding litigation issue between DEPA and another Greek firm
over gas prices, while COVID-19 restrictions hindered bidders
from visiting to conduct due diligence, one of the sources said.
    The privatisation agency declined to comment.
    The seven investor groups that have qualified to bid include
two consortiums, one between Hellenic Petroleum  HEPr.AT  and
Italy's Edison International Holding and the other including
Motor Oil  MORr.AT  and Public Power Corp.  DEHr.AT .
    The individual bidders are Copelouzos Group Gas Limited, GEK
TERNA  HRMr.AT , Switzerland-based energy group MET Holding,
Mytilineos  MYTr.AT  and Shell Gas  RDSa.L .
   The preferred bidder will also have the option to buy the
remaining 35% stake in DEPA Commercial that Hellenic Petroleum
owns if Hellenic doesn't acquire the 65% stake.
   Greece aims to raise 1.8 billion euros ($2.14 billion) from
the sale of state assets this year, up from about 50 million
euros last year, as part of efforts to help its fragile economy
emerge from the pandemic after a decade-long financial crisis.
    The binding bid deadline for the sale of gas distribution
network DEPA Infrastructure has also been delayed until June
from March, one of the sources said. urn:newsml:reuters.com:*:nS8N2KA03G
($1 = 0.8393 euros)

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