Bloomberg News

Greece’s Depa Invites Bids for Three Regional Gas-Supply Units

January 12, 2012

Jan. 12 (Bloomberg) -- Greek natural-gas supplier Depa invited investors to bid for a 35 percent stake and management control in each of three to-be-established regional gas-supply companies.

The companies, which will distribute and supply natural gas in three regions of central and northern Greece to households, businesses and industry, should be set up by the end of the year, Athens-based Depa said in an e-mailed statement today.

To date, Depa has built a gas-pipeline network of 447 kilometers (278 miles) covering three Greek regions that will be gradually extended to reach 1,300 kilometers and 1 million households by the end of 2015, according to the statement.

Greece will start the process to sell Depa and its fully owned gas grid operator Desfa SA by the end of January as part of a state asset sale and real-estate redevelopment program that aims to raise 65 billion euros ($83 billion) by the end of 2015, Costas Mitropoulos, chief executive officer of the Hellenic Republic Asset Development Fund, said yesterday.

--Editors: Jennifer M. Freedman, Leon Mangasarian

To contact the reporter on this story: Paul Tugwell in Athens at ptugwell1@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net


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