International Tender for Sale of 65% Stake in DEPA Commercial S.A. Cancelled

Date October 17, 2023
Type M&A Transactions
Subtype Transaction canceled
Countries Greece
Subsectors Oil & Gas
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The Board of Directors of the Hellenic Republic Asset Development Fund (HRADF) decided to terminate the international tender for the sale of 65% of the share capital of DEPA COMMERCIAL S.A. in Greece.

The tender was halted on March 19, 2021, as per the decision made by the HRADF Board of Directors. The Fund will assess the conditions in both domestic and international natural gas markets and explore alternative options for the development of this asset. 

DEPA COMMERCIAL S.A. is a natural gas supplier in Greece, with a market share of over 90%. The company is a subsidiary of the Public Gas Corporation (DEPA), the state-owned natural gas company of Greece. It supplies natural gas to over 500,000 customers in Greece, including households, businesses, and industry. The company also has a growing presence in the international market, supplying natural gas to customers in Bulgaria, Romania, and Serbia. It is a leading player in the Greek and regional natural gas markets. The company is committed to providing its customers with reliable and affordable natural gas supplies, and to supporting the development of the Greek economy and the reduction of Greece's environmental impact. 
In addition to its natural gas business, DEPA COMMERCIAL S.A. is also involved in the development and operation of renewable energy projects. The company has a number of solar and wind projects in development, and it is also a partner in the development of the first floating offshore wind farm in Greece. 
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