Greek gcompany DEPA Commercial’s privatization plan has been postponed until its business plan, which includes an expansion strategy, begins reaping rewards, effectively meaning that no further steps concerning the company’s sale should be expected before late 2024 or early 2025, Greek privatization fund TAIPED has decided, Energypress reports.
Besides taking into consideration the potential of a bigger and broader business plan, TAIPED is also weighing into the impact on its plan to sell its 65 percent stake of DEPA Commercial because of a long-running legal dispute between the company and the fertilizer industry ELFE. The former is seeking unpaid amounts, and the latter claims it has been overcharged for gas supply.
This dispute appears set to enter yet another chapter that is most likely to add between one and two years of legal battle following a decision by the Council of State, Greece’s Supreme Administrative Court, to revert the case to an Athens Appeals Court for retrial.
DEPA Commercial’s expansion policy, which includes a 20 percent stake in the prospective Alexandroupoli FSRU in northeastern Greece as well as electricity production in the same region, promises to greatly broaden its business interests, which has recently focused on gas trading activity.
