Fewer than nine of the initial candidates expressing interest in the sale of DEPA Infrastructure, a new entity formed by gas utility DEPA as part of its privatization, will make the second round’s short list, which could be announced early next week by the privatization fund TAIPED, energypress sources informed.
One or two funds that had emerged for the first round will not remain contenders as a result of the pandemic’s impact on their investment plans, representatives have informed Greek privatization authorities.
Also, another candidate not fulfilling qualification criteria will be excluded from the next round, sources said.
A shortening of the initial list of candidates is normal for any sale, privatization officials noted, stressing there is no reason for concern about the DEPA Infrastructure sale.
DEPA Infrastructure, backed by a fixed WACC rate of between 7 and 8 percent, one of Europe’s highest in this sector, is regarded as one of Greece’s most secure privatization prospects, local officials noted.
Investors will be offered a full 100 percent stake in the company.
The privatization’s initial list of nine candidates is comprised of: ANTIN INFRASTRUCTURE PARTNERS SAS; CHINA RESOURCES GAS (HONG KONG) INVESTMENT LIMITED; EP INVESTMENT ADVISORS; FIRST STATE INVESTMENTS (European Diversified Infrastructure Fund II); ISQUARED CAPITAL ADVISORS (UK) LLP; ITALGAS SpA; KKR (KKR Global Infrastructure Investors III L.P.); MAQOUARIE (MEIF 6 DI HOLDINGS); SINO-CEE FUND & SHANGHAI DAZHONG PUBLIC UTILITIES (GROUP) Co., Ltd.