Public Power Corp (PPC) has announced a preferred bidder for the acquisition of a 49% stake in Hellenic Electricity Distribution Network Operator (HEDNO) in Greece. The bidder is Spear WTE Investments Sarl (Spear), which is a subsidiary company managed by Macquarie Infrastructure and Real Assets Group (Macquarie).

Macquarie proposed EUR2.1 billion (US$2.45 billion), including debt of EUR804 million (US$939.37 million), for the 49% stake in HEDNO, making it the highest offer among all four final bidders. PPC will take the final decision regarding the transaction on October 19, 2021, during a shareholder meeting.

HEDNO operates a 242,000-km long grid, which brings electricity to about 7 million households and businesses across Greece.