Greece to launch new tender for sale of 66 pct in DESFA

Hellenic Republic Asset Development Fund (HRADF) on Thursday announced it will launch a new international tender for the sale of a 66 pct majority stake in DESFA this month. HRADF said it will begin procedure to hire financial advisors for the tender and will begin talks with Hellenic Petroleum Group to reach a memorandum of understanding for a joint sale of the 66 pct of shares.

After the withdrawal of Azeri company Socar from the tender process in November 2016, Greek authorities decided to launch a new tender to sell a 31 pct equity stake owned by HRADF in DESFA and a 35 pct stake owned by Hellenic Petroleum in DESFA.