HRADF launches tender to sell DEPA Infrastructure

The Hellenic Republic Asset Development Fund (HRADF) οn Μonday launched an international public tender process for the joint sale, along with Hellenic Petroleum SA, of the 100 pct in the share capital of DEPA Infrastructure SA, a company which will be incorporated by means of spin-off of DEPA’s distribution gas branch from DEPA.

Currently, HRADF holds a 65 pct stake of DEPA’s share capital and Hellenic Petroleum SA the remaining 35 pct. Following the incorporation of the new entity DEPA Infrastructure S.A., HRADF and Hellenic Petroleum will each hold their shares and act as joint sellers. Τhe tender process will be held in two phases: pre-selection and binding bid submission. HRADF invites candidate investors to express interest on February 14, 2020.

DEPA SA is a group of companies with presence in the energy sector, actively engaged in the wholesale market, trading, supply and distribution of gas.
The company will include the following:

– DEPA’s participation in the entities acting as operators of Natural Gas Distribution Networks, i.e. EDA Attikis SA, EDA Thessalonikis-Thessalias SA and DEDA SA, with all rights and obligations attached thereto;
– DEPA’s ownership rights on distribution networks;
– The fibre-optic network owned by DEPA;
– The rights and obligations of DEPA with respect to the development, design and implementation of projects for the infrastructure of distribution networks, including compressed natural gas projects or small scale LNG projects, excluding the rights and obligations of DEPA in international projects, such as any quantity commitments in the interconnector pipeline between the Hellenic Republic and the Republic of Bulgaria (IGB) or the floating LNG gasification terminal in Alexandroupolis.

Following the partial demerger of the infrastructure sector and the creation of the new entity DEPA Infrastructure S.A., HRADF will hold 65 pct of its shares and Hellenic Petroleum the remaining 35 pct.