Greece has invited bids for state-owned gas company DEPA, as it moves ahead with a privatisation programme targeted to raise €19 billion by 2015.
According to an offer document published today, the government is considering a "bundled" sale of DEPA, combining its wholesale, trading and gas supply business as well as its DESFA networks and liquified natural gas arm, or an "unbundled" deal in which DESFA would be sold separately.
In either case, Greece, which owns a 65 per cent stake in DEPA, would retain a 34 per cent stake. The deadline for bids is March 22nd.
The offer comes a day after environment minister George Papaconstantinou met the president of Russia's Gazprom Export, Alexander Medvedev, to discuss energy policy and Greece's privatisation programme, according to a ministry statement.
The head of Prometheus Gas, a joint venture between Gazprom and Greece's Copelouzos group, also attended the meeting. Greek daily Ta Nea, citing unnamed sources, said today that Prometheus Gas would be among companies bidding for the DEPA tender.
According to the paper, at least 20 companies and funds have expressed an interest, including Spain's Gas Natural, French Gas de France, Italy's ENI and Austrian OMV.
Greece's privatisation programme, originally intended to raise €50 billion to help cut its crippling public debt burden, has been scaled back drastically in recent months as the overstretched administration has struggled to meet its targets.
Reuters
