Greece gets 9 non-binding bids for stake in gas supplier DEPA Commercial (updated)

Motor Oil (Hellas) Corinth Refineries

23/03/2020 17:16

(Add detail, background)
    ATHENS, March 23 (Reuters) - Greece has received nine
non-binding bids for the sale of a 65% stake in its dominant gas
supplier DEPA Commercial, its privatisation 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
 HEPr.AT  and Edison, a joint venture of Motor Oil  MORr.AT  and
Public Power Corp, industrial group Mytilineos  MYTr.AT  and
contractor GEK Terna  HRMr.AT , 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  HEPr.AT  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. 

 (Reporting by Angeliki Koutantou; Editing by Jan Harvey)
 ((angeliki.koutantou@thomsonreuters.com; +30 210 3376436;
Reuters Messaging: angeliki.koutantou.reuters.com@reuters.net))