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Friday, May 20, 2022
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HRADF signs DEPA Infrastructure Sale & Purchase Agreement with HELPE, and Italgas

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Hellenic News of Americahttps://www.hellenicnews.com
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Hellenic Republic Asset Development Fund (HRDAF) on Friday announced the signing of an agreement for the sale of DEPA Infrastructure to the Hellenic Petroleum S.A. (HELPE), and Italgas SpA for a total consideration of 733 million euros. The Sale & Purchase Agreement (SPA) was signed by the CEO of HRADF, Dimitris Politis, the General Manager of Strategic Planning and Group Development of HELPE, George Alexopoulos, the Group General Counsel of HELPE, John Apsouris, the CEO of Italgas SpA, Paolo Gallo, and the CEO of Italgas NewCo SRL, Pier Lorenzo Dell’Orco.

DEPA Infrastructure was established in April 2020 following the partial demerger of Public Gas Corporation’s (DEPA) gas distribution branch. DEPA Infrastructure’s mission is to develop natural gas networks across Greece through its subsidiaries, i.e. EDA Attikis SA, EDA Thessalonikis – Thessalias SA, and DEDA SA, and safeguard natural gas supply.

Politis expressed his satisfaction with the completion of the agreement within about three months from the declaration of Italgas as the Preferred Investor and pointed out that “the Fund focuses on uplifting the state assets under its stewardship and creating added value by their development. The agreement for DEPA Infrastructure that we signed today serves this philosophy, and we expect to see the company growing dynamically under the roof of its new shareholder”.

Greek Finance Minister Christos Staikouras said the agreement was more evidence of the confidence shown by international business groups in the prospects of the Greek economy.

SOURCE: AMNA

The copyrights for these articles are owned by the Hellenic News of America. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of the Hellenic News of America and its representatives.

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