RFP for the provision of specialized legal services in relation to the further privatization of Hellenic Petroleum

According to Table II, Chapter B, Law 3985/2011 “Mid Term Fiscal Strategy Plan 2012-2015”, the Government has decided to further privatise the Hellenic Petroleum S.A. (“ELPE” or the“Company”).

ELPE is one of the leading energy groups in Greece and South East Europe as it owns and operates three oil refineries in Aspropyrgos, Elefsina and Thessaloniki in Greece (covering 70% of the country’s total refining capacity) and the sole refinery in Skopje, FYROM. In addition, the Company owns a 35% stake in Greece’s incumbent gas company, DEPA, which is the main natural gas importer and wholesale supplier in the country.

As of August 26th, 2011, the HR holds 35.48% of the Company’s share capital, 41.85% belongs to Paneuropean Oil and Industrial Holdings S.A. (“Paneuropean”) and the rest is free floated. ELPE’s shares are listed on the Athens Exchange. In May 2003, HR and Paneuropean entered into a shareholders agreement (“Contract”) according to which both shareholders have preemption right in case any of them decide to sell all or part of their stake.

In the context of the further privatisation of ELPE (the “Privatisation”), the HR is seeking to appoint one specialised international legal counsel, in order to assist the HR and its other professional advisors in relation to the Privatization.