Bloomberg: Greece to Allow Investors to Decide on Gas Company Sales Process

Greece will offer investors the opportunity to decide whether they want to buy gas companies DEPA SA and Desfa together or as separate entities, Greek Energy Minister George Papaconstantinou said.

Greece plans to sell state-controlled natural supplier Depa and gas grid operator Desfa as part of a plan to raise 50 billion euros ($65 billion) from state asset sales or redevelopment. The country has to get 19 billion euros of this by the end of 2015, according to the terms of a second bailout package of loans for Greece.

The Hellenic Republic Asset Development Fund, which is overseeing the privatization program, will proceed in the next few weeks with the first phase of selling the two companies, Papaconstantinou said in Athens today, according to a transcript of his comments e-mailed from the Athens-based Environment, Energy and Climate Change Ministry.  MORE