The Hellenic Republic Asset Development Fund (HRADF) has launched an international tender process for the sale of 65% of the share capital of DEPA Commercial SA, a company which will retain all wholesale and retail gas activities of DEPA S.A., following the partial demerger of DEPA’s distribution sector and the spin-off of its international projects segment.

Currently, HRADF holds 65% stake of DEPA’s share capital and the Hellenic Petroleum S.A the remaining 35%. Following the corporate restructuring of DEPA S.A., HRADF will hold 65% of the share capital of DEPA Commercial S.A. and the Hellenic Petroleum will hold the remaining 35%.

Based on a Memorandum of Understanding (“MoU”) signed between HRADF and the Hellenic Petroleum S.A., the preferred investor will have the option to acquire the stake owned by the Hellenic Petroleum S.A. in DEPA Commercial S.A., leading to an acquisition of 100% of the share capital of DEPA Commercial S.A.

For more information refer to the attached document.