Helleniq Energy, formerly named Hellenic Petroleum (ELPE), and Italy’s Edison are preparing to end a 15-year association as equal partners in energy firm Elpedison.

Officials of both companies are currently evaluating prospective offers for the other side’s 50 percent. The partner to offer the biggest sum is expected to take full control of Elpedison.

Helleniq Energy will seek to acquire Edison’s 50 percent stake in Elpedison and may then opt to sell the energy firm to another corporate group, Mytilineos being the likeliest potential buyer, sources have informed.

During a presentation at the recent Delphi Economic Forum, Helleniq Energy’s CEO Andreas Siamisiis spoke extensively on a 4 billion-euro investment plan at the group’s refineries in Athens and Thessaloniki but made no mention of Elpedison.

This omission has further fueled speculation that Helleniq Energy may be preparing to sell Elpedison if it acquires partner Edison’s stake in the company.

Elpedison holds a portfolio of just under 316,000 customers in Greece’s retail energy market and two power plants offering a total capacity of 820 MW.

Edison executives will be in Athens on Monday for a new round of discussions with Helleniq Energy officials, the sources noted.

Officials of the two sides have already met on numerous occasions to discuss details of their nearing separation. However, a top-level meeting between the CEOs of Helleniq Energy and Edison, Andreas Siamisiis and Nicola Monti, respectively, has yet to take place.

The Greek State will also have a say in the matter as it holds a 31.18 percent stake in Helleniq Energy. Paneuropean Oil & Industrial Holdings, a member of the Latsis group, is the main shareholder with a 40.41 percent share.