Privatization of natural gas retailer gets back on track

The positive prospects of the Athens Stock Exchange (ASE) will provide a solution to the suspended privatization of DEPA Commercial, a subsidiary of Public Gas Corporation (DEPA).

The plan is to get HELLENiQ Energy (the former ELPE) to sell its 35% stake in DEPA Commercial to the state, which, in turn, will list the company on the ASE.

The government is already in talks with the Latsis Group, which, through its subsidiary Paneuropean Oil, controls 47.12% of HELLENiQ Energy, to agree to the sale.

No obstacles are expected, since HELLENiQ Energy itself appears to have decided to divest itself from DEPA Commercial, to which, besides being a major shareholder, it is also a competitor in the natural gas and electricity retail markets through Elpedison, a joint venture with Italy's Edison.