Concurrent DEPA infrastructure, trade unit sales being planned

Privatization fund TAIPED plans to stage concurrent tenders offering stakes of up to 65 percent in DEPA Trade and DEPA Infrastructure once legislation has been ratified to enable gas utility DEPA’s split into these two new corporate entities.

The Greek State holds a 65 percent stake in DEPA, while Hellenic Petroleum ELPE holds the other 35 percent.

The Greek State’s entire stake in DEPA – both infrastructure and trade – could be offered to investors, energy minister Costis Hatzidakis noted yesterday.

A DEPA draft bill enabling the sale of the Greek State’s entire share will be submitted to Greek Parliament within October, along with power utility PPC revisions and a wider framework for more extensive energy market liberalization, the minister added.

The level of the Greek State’s DEPA stake to be privatized will be determined once ELPE decides on the future of its 35 percent share in the gas utility.

It is believed ELPE could sell its stake in DEPA Infrastructure and seek control of the gas utility’s trading interests.