Glencore, Vitol qualify for ELPE privatization’s second stage

Switzerland’s Glencore and Dutch enterprise Vitol, two of five first-round applicants of an international tender offering a 50.1 percent stake of ELPE (Hellenic Petroleum), have qualified for the second round after meeting the privatization’s criteria, TAIPED, the state privatization fund, announced in a statement released today.

Following the signing of the relevant confidentiality agreement, the qualified investors will receive documents concerning the privatization’s second round and be granted access to the virtual data room (VDR), where data and information related to ELPE will be uploaded, TAIPED noted in the announcement.

A consortium comprising Carbon Asset Management DWC-LLC and Qatar’s Alshaheen Group, as well as Iraq’s Alrai Group Holdings Limited and the Gupta Family Group Alliance were disqualified for failing to meet all the criteria, TAIPED announced earlier this month. But an official list of second-round qualifiers remained pending until today’s announcement.