HRADF launches sale of 65% stake in Public Natural Gas Company (DEPA)
The Hellenic Republic Asset Development Fund (HRADF), following the decision of its Board of Directors, has launched an international public tender process for the sale of 65% in the share capital of DEPA Commercial S.A.
The Fund and HELPE have entered into a Memorandum of Understanding (MoU) allowing for the preferred investor to have the option to acquire the remaining 35% of shares in DEPA Commercial S.A. owned by HELPE, leading to an acquisition of 100% of its share capital.
The tender process for the acquisition of 65% of the share capital of DEPA Commercial S.A. will take place in two phases: the pre-qualification phase (Phase A) and the binding offers phase (Phase B). The details of the tender process are described in the Invitation for Expression of Interest which is available on the Fund’s website. The interested parties are invited to submit their expression of interest by March 6, 2020.
UBS and Bank of Piraeus are acting jointly as Financial Advisors and the Law Firm Potamitis Vekris as the Legal Advisor to the Fund.
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