Five teams submit preliminary non-binding bids for ELPE sale

Five investment schemes have submitted first-round Expressions of Interest to an international tender offering a 50.1 percent (at least) stake of ELPE (Hellenic Petroleum), the state privatization fund, TAIPED has announced.

Expressions of Interest were submitted by two of the world’s biggest commodity traders, Dutch firm Vitol and Switzerland’s Glencore, confirming a previous energypress report; Alrai Group Holdings Limited; a consortium comprised of Carbon Asset Management DWC-LLC and Alshaheen Group S.A.; and Gupta Family Group Alliance.

The deadline for non-binding offers expired yesterday following an extension of a previous May 18 deadline.

TAIPED’s advisors will now evaluate these Expressions of Interest and submit to the fund’s Board of Directors their recommendation regarding the candidates that qualify for the next phase of the tender.