DEPA Infrastructure is gas distribution network operator which emerged after the spilt of Public Gas Corporation (DEPA). Greek state privatization agency TAIPED has shortlisted six investors in the sale of 100 % capital of DEPA.
Investors invited to place binding bids in the second phase of the sale are: a consortium of SINO-CEE Fund and China-based investment holding company Shanghai Dazhong Public Utilities, EP Investment Advisors, First State Investments, Italgas SpA, and investment firm KKR and asset manager Macquarie. This means that Antin Infrastructure Partners SAS, China Resources Gas (Hong Kong) Investment Limited and Isquared Capital Advisors (UK) LLP are out of the race.
DEPA Infrastructure will be established as an entirely new company with its own tax file number, while DEPA Trade will succeed the existing DEPA utility. Currently, DEPA is owned by state privatization fund TAIPED – 65 %, and oil refiner Hellenic Petroleum (ELPE) – 35 %. Following the partial division, the two shareholders own the corresponding stakes in DEPA Infrastructure, and act as its joint sellers.
Qualified investors will now be given access to data and the opportunity to visit sites before they submit binding bids. It is expected that the sale will be concluded in the fourth quarter of 2020.
