A news breaking announcement was made during the 21st Annual Capital Link Invest in Greece Forum which took place on Monday, December 9, 2019.

The Hellenic Republic Asset Development Fund (HRADF) and Hellenic Petroleum (ELPE) signed a Memorandum of Understanding (MoU) to jointly sell through a tender process 100%, that will be conducted by HRADF, 100% of the share capital of DEPA Infrastructure, a company which will be incorporated by means of spin-off of DEPA’s distribution gas branch. Mr. Aris Xenofos, Chairman of the Board and Mr. Riccardo Lambiris, Chief Executive Officer of HRADF and Mr. Andreas Shiamishis, CEO of ELPE were present.

Currently, HRADF holds a 65% stake in DEPA’s share capital with Hellenic Petroleum holding the remaining 35%. Following the incorporation of the new entity DEPA Infrastructure S.A., HRADF will hold 65% of its shares and ELPE the remaining 35%, and they will both act as joint sellers.

Following the signing of the MoU between HRADF and ELPE, Mr. Gerassimos Thomas, Deputy Minister for Energy and Natural Resources, in the presence of Mr. Christos Staikouras, Minister of Finance of the Hellenic Republic, announced the commencement of an international public tender process for the joint sale of 100% in DEPA Infrastructure. The details of the tender are described in the Invitation of Expression of Interest which is available on HRADF’s website at

The singing of this MoU and the commencement of the tender process indicate the willingness of the new government to accelerate the development of public property and attract direct investment in Greece.

For further information, please contact:

NEW YORK – Ms. Olga Bornozi / Ms. Eleni Bej

Tel. +1 212 661 75 66 – Email: [email protected]   

ATHENS – Ms. Athena Kosmadaki

Tel: +30 210 610 9800 – Email: [email protected]

For more details, please visit:   


Founded in 1995, Capital Link is a New York based investor relations, financial communications and advisory firm with a strategic focus on the maritime, commodities and energy sectors, MLPs, as well as Closed-End Funds and ETFs. Based in New York City, Capital Link has presence in London, Athens & Oslo. Capital Link is a member of the Baltic Exchange and works very closely with the New York Stock Exchange, NASDAQ and the London Stock Exchange as well as with major international and supranational organizations and industry associations in the areas of the firm’s strategic concentration.

Our proactive approach, which integrates Investor Relations, Information Technology and Media, enhances awareness and branding for our clients through tailored outreach programs targeting analysts, institutional and individual investors and the financial media complemented by extensive and uniquely powerful marketing platforms. Capital Link offers a full suite of services including strategic and corporate advisory, investor relations, media relations, public and industry relations and the organization of corporate events. Capital Link is also known for the organization of large scale, high quality Investment Forums focusing on maritime transportation and U.S. investment products in key industry centers, such as New York, London, Athens, Limassol, Shanghai, Singapore, Tokyo and as of this year in Hong Kong. We organize twelve to fourteen conferences annually, of which seven are focused on the maritime sector. The Capital Link Investment Forums feature industry leaders and draw the elite of the global financial and investment communities. The Capital Link brand is widely-recognized and valued worldwide by participants in these communities for combining rich informational and educational content with as well as superior networking opportunities. In addition to conferences, Capital Link organizes Webinars focusing on investment strategies, sectors, critical topics of interest to the investment community and company presentations. Capital Link’s global marketing platform enhances the visibility and reach of these events on a global scale that lasts well beyond the date on which each event is held, becoming a continuous reference point for market participants.

Capital Link’s efforts have been recognized by the 2011 Lloyds’s List Greek Shipping Awards, in 2012 and 2013 by the InterContinental Finance Magazine and in 2016 by the Wealth & Finance Magazine, Also, by the International Propeller Club of the United States and AHI-American Hellenic Institute.