A general assembly of Hellenic Petroleum (Hel.Pe) shareholders this week approved of a Memorandum of Cooperation (MoC) between the petrochemical group, the Greek state and the Hellenic Republic Asset Development Fund (HRADF), with the aim being the joint sale of 66 percent of the shares the trio own in the Hellenic Gas Transmission System Operator (DESFA).
An invitation of interest notice was issued by HRADF, Greece’s memorandum-mandated privatization fund, on June 26, part of continuing efforts to sell-off a majority stake in the state-run natgas utility and its management.
The latter is also envisioned in the most recent memorandum signed by the current government with institutional creditors.
