The Hellenic Republic Asset Development Fund (HRADF) said it has launched an international public tender process for the joint sale, along with Hellenic Petroleum, of the 100% in the share capital of DEPA Infrastructure, a company which will be incorporated by means of spin – off of DEPA’s distribution gas branch from DEPA.

Currently, HRADF holds 65% stake of DEPA’s share capital and Hellenic Petroleum the remaining 35%. Following the incorporation of the new entity DEPA Infrastructure, HRADF will hold 65% of its shares and Hellenic Petroleum the 35% and they will act as joint sellers.

DEPA Infrastructure will include the following: DEPA’s participation in the entities acting as operators of Natural Gas Distribution Networks, i.e. EDA Attikis, EDA Thessalonikis – Thessalias and DEDA, with all rights and obligations attached to that; DEPA’s ownership rights on distribution networks; the fibre-optic network owned by DEPA; and the rights and obligations of DEPA with respect to the development, design and implementation of projects for the infrastructure of distribution networks, including compressed natural gas projects or small scale LNG projects, excluding the rights and obligations of DEPA in international projects, such as any quantity commitments in the interconnector pipeline between the Hellenic Republic and the Republic of Bulgaria (IGB) or the floating LNG (liquified natural gas) gasification terminal in Alexandroupolis.