Greece’s privatization agency (HRADF) on Thursday announced the unsealing of an improved financial offer by ITALGAS SpA for the acquisition of 100 percent of the share capital of DEPA Infrastructure S.A., part of a joint sale with Hellenic Petroleum S.A. (HELPE).
The agency, officially called the Hellenic Republic Asset Development Fund (HRADF), said the improved offer includes an upfront payment of 733 million euros.
HRADF’s Board of Directors accepted the offer and declared ITALGAS SpA as the preferred bidder.
Currently, HRADF holds a 65-percent stake of DEPA Infrastructure’s share capital, with HELPE holding the remaining 35 percent.
A file relating to the tender process will be submitted to the Court of Auditors for a pre-contractual audit, while the relevant transaction documents will be executed following the Court of Auditors’ approval.
