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Sale of Gas Firms to Fetch Around 1 bln

depaThe privatization project concerning Greece’s Public Gas Corporation (DEPA) and DESFA, the country’s gas network operator, has drawn major interest and is likely to fetch around 1 billion euros, or even more, judging by the nonbinding offers submitted to the state privatizations fund (TAIPED). If all goes well, as daily Kathimerini reports quoting TAIPED officials, it is possible that the sell-off of the twin gas companies will bring in revenues that will cover a significant part of the target for privatization intakes in 2013, which is between 2.5 and 2.6 billion euros. A picture is also starting to emerge regarding the interests of each bidder.
Reliable sources say that Russia’s Gazprom and Greece’s M&M Gas Co (a joint venture owned by the Mytilineos and Motor Oil groups) are exclusively interested in DEPA, while Azeri state firm SOCAR and the consortium comprising PPF and GEK Terna is only interested in DESFA. Russian company Negusneft, meanwhile, is the only investor interested in both the 100% of DEPA and the 65% stake in DESFA that are up for grabs.
(source: ANSA)

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