No binding offers were submitted by the ascribed deadline to the Hellenic Republic Asset Development Fund (HRADF) for a 50.1-percent stake in Hellenic Petroleum S.A. (Hel.pe), Greece's biggest petro-chemical group, the privatization agency announced on Wednesday.
In a statement, HRADF referred to "...reasons related to the short-listed parties and recent developments in the international environment that affect the consortia..."
The majority stake in Hel.pe is jointly owned by HRADF and Paneuropean Oil and Industrial Holdings S.A.)
The privatization agency's board of directors will now convene to consider the next steps in the process.
