HRADF successfully completed the tender for the joint sale of 100% of the share capital of DEPA Infrastructure 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 HELPE respectively, began on December 9, 2019 with the publication of the Invitation for Expression of Interest, while the submission of binding offers took place on July 15, 2021. On September 9, 2021, HRADF declared the Italian group Italgas SpA as the preferred investor for a total price of € 733 million euros. The transfer of shares in Italgas SpA was completed on September 1, 2022 at an event held at the Fund’s premises and at the Embassy of Italy in Greece.
DEPA Infrastructure S.A. was established in April 2020 following the partial split of the infrastructure sector of the Public Gas Corporation S.A. (DEPA). After the completion of the division of the infrastructure sector and the creation of the company, HRADF held 65% of its shares and Hellenic Petroleum S.A. the remaining 35%.
DEPA Infrastructure’s mission is to develop natural gas networks across Greece through its subsidiaries, i.e., EDA Attikis SA, EDA Thessalonikis – Thessalias SA, and DEDA SA, and safeguard natural gas supply.
DEPA Infrastructure S.A. includes the following:
- Participation in Natural Gas Distribution Network Operators. Specifically, DEPA Infrastructure holds 100% of the share capital of EDA Attica S.A., 51% of the share capital of EDA Thessaloniki – Thessaly S.A. and 100% of the share capital of DEPA S.A.DEPA’s ownership rights on distribution networks.
- The fiber-optic network owned by the company.
- 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.
HRADF had appointed UBS Investment Bank and Piraeus Bank as financial advisors for the conduct of the tender process and Potamitis Vekris Law Firm as legal advisor.