Two binding offers for DEPA Infrastructure

Greece has received two binding offers for a majority stake in its state-controlled gas distribution network, DEPA Infrastructure, the country’s privatization agency said on Thursday.

The bidders were Italgas and Czech EP Investment Advisors, the agency said.

Along with Italgas and EP Investment Advisors, which had qualified to submit binding offers, another four investors, including First State Investments and a Chinese joint venture between SINO-CEE Fund and Shanghai Dazhong Public Utilities had been short-listed.

Greece and its biggest oil refiner, Hellenic Petroleum, are jointly selling their 65% and 35% stakes respectively in DEPA Infrastructure.

The privatization agency will check whether the bids meet the criteria set in the tender before it unseals them, it said. [Reuters]