Equality terms for DEPA Trade sale contenders being prepared

A soon-expected tender for DEPA Trade, one of two new entities emerging from a company split of gas utility DEPA, is planned to include terms ensuring equal treatment for all contenders, including Hellenic Petroleum ELPE, whose 35 percent stake in the gas utility will not offer the petroleum group an advantage over rival bidders.

All contenders expressing an interest for DEPA Trade’s 50.1 percent will receive equal treatment, according to the plan.

The sale model to be applied will be shaped in accordance with a plan adopted for the sale of a 30 percent stake of Athens International Airport, sources informed. Canada’s PSP Investments, holding a 40 stake of the Athens airport, is expected to participate in the DEPA Trade tender.

ELPE is expected to seek bolstering its current DEPA stake for a majority stake of DEPA Trade.

The DEPA Trade tender’s terms are now in the making for an anticipated launch of the sale around late May, following the European elections.

ELPE has disclosed it is currently involved in talks with Edison, its Italian business partner in Greece’s electricity market, for a possible joint bid in the DEPA Trade sale.

Meanwhile, a follow-up sale for ELPE’s 50.1 percent, following the recent failure of an initial sale effort, is not expected any time soon.