DEPA Commercial

Greece's privatization agency (TAIPED) said on Tuesday that it has shortlisted seven investors for the purchase of a majority stake in the country's dominant gas supplier, DEPA Commercial.

Greece has received nine non-binding bids for the sale of a 65 percent stake in its dominant gas supplier DEPA Commercial, its privatisation agency said on Monday.

Investors who have expressed an interest in the stake include Shell Gas, Vitol Holding, Power Globe, MET Holding and C.G. Gas Limited of Greece's Copelouzos group, the agency said in a statement.

Greece on Thursday gave investors the option of submitting their interest in a majority stake in the wholesale and retail business of its biggest gas utility electronically to facilitate the process in view of the coronavirus outbreak.

Greece is selling its 65 percent stake in DEPA Commercial in line with a post-bailout agreement with its lenders to open up the gas market.

Hellenic Petroleum (ELPE) chief executive Andreas Shiamishis told Kathimerini in an interview that "the transition of the market to the new energy model is now certain and any companies that don't acknowledge that and don't include it in their plans will sooner or later face problems."

Greece's privatization agency TAIPED is planning a series of selloffs over and beyond the scheduled sale of 30 percent of the firm managing the capital's international airport and of 100 percent of gas distribution network DEPA Infrastructure in  order for the government to achieve the target set by international creditors of 2.4 billion euros, TAIPED's executive president Aris Xenofos has said