HELLENIC PETROLEUM S.A announces that today, 9 December 2019, a Memorandum of Understanding (MoU) was executed with the “Hellenic Republic Asset Development Fund S.A.” (“HRADF” or “the Fund”) for the joint sale of 100% of the shares of DEPA Infrastructure S.A., a company which will be incorporated by means of spin-off of DEPA’s gas distribution activity from DEPA S.A., according to Law 4001/2011 as amended by Law 4643/2019.
Currently, HRADF holds 65% of DEPA’s share capital and HELLENIC PETROLEUM S.A the remaining 35%. Following the incorporation of the new entity DEPA Infrastructure S.A., the Fund will hold 65% of the share capital of DEPA Infrastructure S.A. and HELLENIC PETROLEUM S.A. 35%.
The MoU will be submitted to the General Meeting of Shareholders of HELLENIC PETROLEUM S.A. for final approval.
Pursuant to the above MoU, the Fund has invited interested parties to submit their Expressions of Interest (“EoI”) for their participation in the international tender process for the acquisition of 100% of the share capital of DEPA Infrastructure S.A.