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Greece invites bids for 66% stake in DESFA

Staff Writer | June 27, 2017
Greece announced the invitation of expression of interest for a 66% stake in natural gas grid operator DESFA.
Europe   Non-binding bids
Non-binding bids should be submitted by July 24.

DESFA is a wholly-owned subsidiary of Public Gas Corp, known as DEPA, which is currently 65% owned by the Greek statet and 35% owned by Hellenic Petroleum.

The privatization agency will sell a 31% stake of DESFA shares, out of its total 65% stake, while Hellenic Petroleum will sell its 35% stake in the gas grid operator.

Recall that Greece had failed to sell DESFA to Azerbaijian’s SOCAR which was the preferred bidder in the international tender back in late-2013 after offering 400 million euros. ■