HRADF successfully completed the tender process for the sale of 100% of the DEPA Infrastructure share capital, jointly with HelleniQ Energy (formerly Hellenic Petroleum S.A. – HELPE).

The tender process for the sale of 65% and 35% of the share capital of the company held by HRADF and Hellenic Petroleum, respectively, was launched on 9 December 2019 with the publication of the Call for Expressions of Interest, while binding offers were submitted on 15 July 2021.

On 9 September 2021, HRADF declared the Italian group Italgas SpA the preferred investor for a total consideration of €733 million.

The transfer of the shares to Italgas SpA was completed on 1 September 2022 at an event held at the HRADF premises (signing), and subsequently at the Italian Embassy in Greece.

Italgas’s strategic plan for DEPA Infrastructure foresees investments totalling €1.8 billion.

Alongside Italgas’s strategic plan, changes are being introduced relating to the establishment and operation of local offices in each city and the implementation of services for the operation and maintenance of the distribution networks by the personnel of the Public Gas Distribution Company (“DEDA”).

DEPA Infrastructure S.A. was established in April 2020 following the partial split-off of the infrastructure division of the Public Gas Corporation S.A. (DEPA).

After the split-off of the infrastructure division was completed and the company was established, HRADF held 65% of its shares and Hellenic Petroleum S.A. held the remaining 35% (hence the above joint sale).

The mission of DEPA Infrastructure is the development of natural gas networks throughout Greece through the Gas Distribution Companies and DEDA, ensuring the supply of gas throughout the country.