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    Greek Distribution Grid Fetches 9 Bids


Binding offers will be accepted in the next phase of the tender.

by: Joseph Murphy

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Greek Distribution Grid Fetches 9 Bids

Nine parties have filed expressions of interest (EoIs) to acquire the distribution network of Greek state gas utility Depa Infrastructre, Greece's privatisation agency Taiped said in a statement on February 21.

Greece is seeking bids for 100% of Depa  – 65% of which is held by Taiped and 35% by state-owned Hellenic Petroleum. Taiped invited EoIs in December, and later decided to extend the deadline by a week until February 21.

The investors that submitted EoIs were: Antin Infrastructure Partners, China Resources Gas (Hong Kong) Investment, Consortium Sino-CEE Fund and Shanghai Dazhong Public Utilities Group, EP Investment Advisors, First State Investments (European Diversified Infrastructure Fund II), Italgas, Isquared Capital Advisors, KKR (KKR Global Infrastructure Investors III L.P.) and Maquarie (Meif 6 Holdings).

Taiped said its advisors would evaluate the EoIs and make their recommendations to the agency's board on the candidates that qualify for the next phase of the tender, in which binding offers will be accepted.

The agency also on January 23 invited companies to submit EoIs in the sale of Depa Commercial, consisting of gas wholesale and retail activities, by no later than March 6.