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Greece To Sell Controlling Stake In DEPA; Likely To Keep 10%

Greece To Sell Controlling Stake In DEPA; Likely To Keep 10%
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Παρ, 15 Ιουλίου 2011 - 18:25
The Greek government will sell a controlling stake in natural gas monopoly DEPA SA, but is likely to keep at least a 10% stake in the company, DEPA Chairman and Chief Executive Harry Sachinis said Friday.
The Greek government will sell a controlling stake in natural gas monopoly DEPA SA, but is likely to keep at least a 10% stake in the company, DEPA Chairman and Chief Executive Harry Sachinis said Friday.

The Greek government, which holds 65% of DEPA, is selling part of that stake as part of a plan to raise some EUR50 billion from the privatization of public assets.

The state intends to sell between 55% and 90% of its stake in the company, keeping at least 10%, Sachinis said.

Earlier Friday, Azerbaijan 's state energy company Socar said it intends to buy a stake in DEPA. Spain 's Gas Natural SDG SA (GAS.MC) has also announced its interest in the company.
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