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Gazprom Among Nonbinding Bidders for Greece΄s DEPA/Desfa

Greece΄s privatization agency said Tuesday that five companies or consortiums have made nonbinding offers for Greek state-owned natural gas company DEPA/Desfa, which is being sold as part of the country΄s privatization program, Dow Jones reported.
The privatization agency, the Hellenic Republic Asset Development Fund, said expressions of interest for natural gas company DEPA and natural gas grid operator Desfa had come from Russia΄s Gazprom and Negusneft and Azerbaijan΄s Socar, as well as two Greek consortiums comprising M&M GasCo, Mytilineos Holdings SA, Motor Oil Hellas Corinth Refineries SA and a joint bid by PPF and GEK Terna Holding Real Estate Construction SA.
“We are pleased by the response of the investment community, which has demonstrated its trust in the country and in the prospects of DEPA, despite the difficult economic situation,” said Yannis Emiris, chief executive of the Hellenic Republic Asset Development Fund. “The number and entity of the submissions received is also a proof of investors΄ confidence in our tendering procedures,” he added.
Greece recently downwardly revised its target for revenues from privatizations to about EUR10 billion ($12.8 billion) by 2016 from EUR19 billion previously.
(source: Dow Jones)

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