Prospective bidders for the ELPE (Hellenic Petroleum) privatization, offering a 50.1 percent stake, have been given a deadline extension until May 30, from May 18, to express official interest, TAIPED, the state privatization fund, announced today.

Certain investors had requested additional time, despite the bailout-required sale’s tight schedule.

Various queries had been raised by investors in the lead-up to tomorrow’s initial deadline.

The privatization fund has made clear the ELPE tender is open to firms and investors based in all countries, except for those facing international sanctions imposed by the EU or UN.

Other investor questions included clarification requests on the precise number of ELPE shares to be offered in the sale; the scheduling of the finalized purchase agreement; financial criteria needed by participants; and the nature of managerial rights to be offered to the prefered bidder.