No further scheduling revisions are intended – at present – for the DEPA Trade privatization procedure, whose first-round deadline has already been reset for March 23, government officials have told energypress.
Officials at privatization fund TAIPED are concerned the coronavirus crisis could impact the sale and subdue bidding interest.
DEPA Trade was established as a new gas utility DEPA entity for the privatization, offering the Greek State’s 65 percent stake.
The DEPA Trade privatization procedure can move ahead as planned because the aforementioned deadline has already been extended once and is non-binding, the energy ministry has contended, adding extension requests are limited to a very small number of investors.
Essentially, the ministry, and government as a whole, are determined to avoid any sale delays as this would reinforce the picture of a halt in economic activity. The government sees the next fortnight as a crucial period for the coronoavirus preventive measures and economy.
Subdued interest by prospective bidders, including funds and consortiums, cannot be ruled out as Greece is still regarded as a high-risk market. These concerns also apply for the country’s two other upcoming major privatizations concerning DEPA Infrastructure and Athens International Airport.