The transaction with Italgas for DEPA Infrastructure is almost done

Their assessment that in the next period the transaction for the sale of DEPA Infrastructure to Italgas will be completed is made known by executives of the shareholders of the Greek company. DEPA Infrastructure has as its mission the development 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.

So far the Hellenic Republic Asset Development Fund (HRADF) holds 65% of DEPA Networks and Hellenic Petroleum S.A. the remaining 35%.

On the occasion of publications where there is talk of involvement in the sale, competent executives of the HRADF and Hellenic Petroleum (HELPE) commented:

“The sale of DEPA Infrastructure is a complex transaction that is subject to various approvals by the competent regulatory authorities, as is explicitly provided for in the purchase agreement that has been signed. It is further noted that this buyer has extensive experience in the European regulatory framework applicable in such cases.

Following the approval by the Competition Commission, we understand that the certification of DEPA Infrastructure subsidiaries by the Regulatory Authority for Energy RAE, in view of the sale to Italgas, will be completed soon.

The specific act is the last deferral condition according to the signed contract, so we expect the completion of the transaction in the next period. “