Five Candidates Show Interest to Buy Majority Stake in SEE-Active Hellenic Petroleum

Five Candidates Show Interest to Buy Majority Stake in SEE-Active Hellenic Petroleum

Greece's privatisation agency HRADF said that five potential investors have submitted on time their expressions of interest towards the acquisition of a stake of at least 50.1% in Hellenic Petroleum, a leading energy group in Southeast Europe (SEE).Expressions of interest were submitted by Alrai Group Holdings, Gupta Family Group, Glencore Energy UK, Vitol Holding and a consortium comprising Carbon Asset Management DWC and Alshaheen Group, the privatisation authority, Hellenic Republic Asset Development Fund (HRADF) said in a statement on Wednesday.Hellenic Petroleum's business in SEE comprises networks of filling stations in Bulgaria, Serbia, Montenegro, FYROM operating under the EKO brand, the OKTA oil refinery in FYROM, as well as filling stations in Cyprus. The group owns three of the four oil refineries in Greece. In April, HRADF said that the public tender process will be conducted in two phases, a pre-qualification phase and a binding offers phase, to which only shortlisted investors will be invited.The shares of Hellenic Petroleum are primarily listed on the Athens Exchange with a secondary listing on the London Stock Exchange.The biggest shareholder of Hellenic Petroleum is Luxembourg-based Paneuropean Oil and Industrial Holdings (POIH) with a 45.47% stake and Greek state through HRADF with a 35.48% stake.

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