Greece moving closer to sales of ELPE and DEPA, minister asserts - ENERGY PRESS / BLOOMBERG

09/JAN/2019

Greece has crossed a key hurdle to the sale of a controlling stake in ELPE (Hellenic Petroleum) as it rushes to meet its privatization pledge after emerging from its third and final bailout.

In a Bloomberg interview, energy minister Giorgos Stathakis said Greece has reached an accord with potential buyers of the ELPE stake – valued at the current market price of 1.16 billion euros and seen as a flagship privatization – over the control of its wholly owned unit, ELPE Upstream. Under the accord, the state will own 50.1 percent of ELPE Upstream, which holds Hellenic Petroleum’s hydrocarbon exploration and concession rights.

“Talks with the potential buyers of the 50.1 percent stake in Hellenic Petroleum over Elpe Upstream have finished and all issues have been resolved,” Stathakis said in the interview in Athens.

The transfer of the 66% of DESFA’ shares to SENFLUGA Energy Infrastructure Holdings S.A. is completed - HRADF

Athens, 20/12/2018

PRESS RELEASE

The successful completion of another important milestone of the Hellenic Republic's program for the development of assets by HRADF marks the transfer of 66% stake (31% owned by HRADF and 35% owned by HELPE) to SENFLUGA Energy Infrastructure Holdings S.A. for a total amount of €535 million.

The business substance of DESFA’s new shareholder, comprising of the European energy companies Snam S.p.A., Enagás Internacional S.L.U. και Fluxys S.A., certifies the attractiveness of the Greek market, highlights the investment prospects of Greece and makes the country as a natural gas hub in Europe.

With respect to the above, the Executive Chairman of HRADF, Mr. Aris Xenofos, stated: “An extremely successful tender process, which attracted considerable investment interest, was completed today. The new era that starts for DESFA strengths also the role and the position of our country as an energy hub for the EU but and the wider geographical region. We have confidence in DESFA's new shareholders and the development plans they will deliver, transferring their international experience and know-how to the company. We are here support them as the case may be”.

Snam-led consortium in 535 mln euro deal for stake in Greece's gas grid operator DESFA- INDIA TIMES / REUTERS

July 20, 2018, 16:39 IST

ATHENS: A consortium led by Italy's Snam will take a majority stake in Greek gas grid operator DESFA under a 535 million euro ($623 million) deal signed on Friday, the country's HRADF privatisation agency said.

A consortium of Snam, Spain's Enagas Internacional and Belgium's Fluxys will buy a 66 percent stake from the government and top Greek oil refiner Hellenic Petroleum .

Greece gets two binding bids in gas grid sale - REUTERS

FEBRUARY 16, 2018 / 7:01 PMReporting by Angeliki Koutantou; Additional reporting by Stephen Jewkes in Milan; Editing by Karolina Tagaris and Jane Merriman

ATHENS, Feb 16 (Reuters) - Greece has received two binding bids for a 66 percent stake in its gas grid operator DESFA, the Greek privatisation agency (HRADF) said on Friday, a sale that is a key condition of the country’s international bailout.

The agency said bids were submitted by a consortium of Italy’s Snam, Spain’s Enagas Internacional and Belgium’s Fluxys, and a consortium of Spain’s Regasificadora del Noroeste (Reganosa), Romania’s Transgaz and the European Bank for Reconstruction and Development (EBRD).

Friday’s deadline for binding bids comes ahead of a euro zone finance ministers’ meeting in Brussels on Monday which will assess Greece’s bailout progress and decide on disbursing more bailout loans.

A share purchase agreement and a shareholders’ agreement for DESFA are due to be signed by April for the sale to conclude by June, before Greece exits its third bailout in August.

Greece again asks SOCAR to extend DESFA tender term - TREND NEWS AGENCY

29 November 2016 12:26 (UTC+04:00)Maksim Tsurkov, Baku, Azerbaijan

Hellenic Republic Asset Development Fund (HRADF) again requested from Azerbaijan’s state oil company SOCAR to extend the term of a letter of guarantee on a tender on SOCAR’s acquiring a 66-percent stake in the Greek national gas transmission system operator DESFA until Dec. 23, the Greek media reported Nov. 29.

It is reported that the HRADF appealed to SOCAR with the aim of proper execution of the DESFA privatization contract.

“Simultaneously, Greece’s Energy Ministry is in constant contact with SOCAR and aims to close the deal in the next two days, as the current letter of guarantee expires on Nov. 30,” according to the Greek media.