Consortia emerge for privatization of Hellenic Petroleum
The Hellenic Republic Asset Development Fund (HRDF) has approved the formation of two consortia for the second round of the privatization of the Greek oil refiner Hellenic Petroleum Group (HELPE).
In the second quarter of 2018, Greece launched an international tender to sell a majority stake in HELPE. Greece's privatisation agency, HRDF, announced that it will sell no less than 50.1% in the company. Major shareholders Greece and Paneuropean Oil and Industrial Holding agreed this month to divest at least 50.1% of HELPE.
Paneuropean Oil owns 45.5% of HELPE and Athens holds a 35.5% stake.
Country updates
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