Six contenders prequalify to Phase B for privatization of Greece's DEPA Infrastructure

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ATHENS, June 2 (Xinhua) -- Greece's privatization fund announced on Tuesday that six interested parties prequalify to the next phase for the privatization of the country's Public Gas Corporation (DEPA) infrastructure entity, the DEPA Infrastructure.

During Tuesday's meeting, the Board of Directors of the Hellenic Republic Asset Development Fund (HRADF) decided, in agreement with Hellenic Petroleum (HELPE), that six interested parties meet the criteria to participate in the binding offers phase of the tender process for the acquisition of 100 percent of the share capital of DEPA Infrastructure, according to an e-mailed HRADF press release.

Currently a 65 percent stake in DEPA Infrastructure is owned by HRADF and 35 percent stake is owned by HELPE.

DEPA Infrastructure was established earlier this year after the corporate restructuring of the DEPA group of companies.

Among the interested parties prequalified to participate in Phase B of the tender is, according to the announcement, the consortium of Sino-CEE Fund & Shanghai Dazhong Public utilities (Group) Co. Ltd from China.

The other five are EP Investment Advisors, a European energy group that owns and operates assets in many European countries; First State Investments (European Diversified Infrastructure Fund II); Italy's largest natural gas distributor Italgas SpA; KKR Global Infrastructure Investors III L.P. and Maqouarie (MEIF 6 DI HOLDINGS).

Following the signing of the relevant confidentiality agreement, the parties prequalified will receive the documents of Phase B and be granted access to the virtual data room (VDR), where data and information related to DEPA Infrastructure are uploaded, HRADF said.

Greece's privatization program was launched in 2010 as part of the bailout programs implemented to pull the country out of a severe debt crisis. The country's third bailout program ended in the summer of 2018, but Greece continues with its privatizations, remaining committed to the path of fiscal discipline and reforms. Enditem

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