BAKU, Azerbaijan, Dec.9
By Leman Zeynalova – Trend:
The Hellenic Republic Asset Development Fund (HRADF) has launched an international public tender process for the joint sale, along with Hellenic Petroleum SA, of the 100 percent in the share capital of DEPA Infrastructure SA, a company which will be incorporated by means of spin - off of DEPA’s distribution gas branch from DEPA, Trend reports citing HRADF.
Currently, HRADF holds 65 percent stake of DEPA’s share capital and Hellenic Petroleum S.A the remaining 35%. Following the incorporation of the new entity DEPA Infrastructure S.A., HRADF will hold 65 percent of its shares and Hellenic Petroleum the 35 percent and they will act as joint sellers.
DEPA Infrastructure will include the following:
• DEPA’s participation in the entities acting as operators of Natural Gas Distribution Networks, i.e. EDA Attikis SA, EDA Thessalonikis – Thessalias SA and DEDA SA, with all rights and obligations attached to that;
• DEPA’s ownership rights on distribution networks;
• The fibre-optic network owned by DEPA;
• The rights and obligations of DEPA with respect to the development, design and implementation of projects for the infrastructure of distribution networks, including compressed natural gas projects or small scale LNG projects, excluding the rights and obligations of DEPA in international projects, such as any quantity commitments in the interconnector pipeline between the Hellenic Republic and the Republic of Bulgaria (IGB) or the floating LNG gasification terminal in Alexandroupolis.
The tender process will be conducted in two phases, a pre-qualification phase (Phase A) and a binding offers phase (Phase B). Ιn Phase A, HRADF invites investors to submit an expression of interest according to the terms of the Invitation on February 14, 2020. The interested investors who meet the prequalification criteria (shortlisted investors) will be invited to participate in Phase B, where they will gain access to informative material on DEPA Infrastructure provided through a Virtual Data Room (VDR), and then they will be invited to submit binding financial offers.
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