Three international consortia were shortlisted in a tender for a 24-percent stake in Greece’s state-run power grid transmission operator, ADMHE.
The three candidates were identified as RTE International, which is affiliated with RTE Reseau de Transport d' Electricite S.A.; Hong Kong-based State Grid International Development Ltd.; and Terna, in cooperation with Rete Elettrica Nazionale S.p.A. and F2i SGR S.p.A.
The trio will enter the due diligence stage in the second phase of the tender, and must now submit binding offers for the stake.
As previously reported, a recent general assembly of shareholders of the Public Power Corp. (PPC), the state-run power utility and primary shareholder of ADMHE, approved of the sale of the 24-percent stake to a strategic investor. Another 25-percent stake will be sold to a company belonging exclusively to the state – the proverbial “sole golden share” – whereas the remaining 51 percent will be transferred to a holding company to be established by PPC, which will then transfer the shares to its own shareholders.
