Public Power Corporation (PPC) has reached an agreement with Macquarie Asset Management on the sale of a 49% ownership interest in Hellenic Electricity Distribution Network Operator (HEDNO).

HEDNO operates, maintains and develops the national power distribution network in Greece, serving more than 7.6 million customers via a 242,000-kilometre network of electricity distribution lines, interconnectors and substations. 

Macquarie Asset Management’s investment will be made on behalf of institutional investors including pension funds and insurance companies. Macquarie Asset Management will partner in the long-term ownership and development of the business with PPC, which retains the remaining 51% ownership interest.