Greek power grid operator sell-off draws international interest

Greek power grid operator ADMIE attracted five expressions of interest as the government seeks to sell a controlling stake, state-controlled power utility PPC said on Friday.

PPC, which owns ADMIE and will handle the deal, said in a regulatory statement that “five expressions of interest were submitted, indicating strong competition and robust international investor interest.”

According to two sources with knowledge of the matter, the possible suitors include Chinese grid operator China State Grid Corp (SGCC), Italy’s Terna and Belgium’s Elia.

“The other two expressions of interest have come from a Canadian investment fund and a company from India,” one of the two sources said on condition of anonymity.

This wide-ranging interest from three continents confirms the increasing attractiveness of Greek state asset sales after its bailed-out government returned to the bond markets last month.

Athens is selling 66 percent of ADMIE, which runs about 11,000 kilometers of high-voltage power lines across the country.

[Reuters]