More bid­ders ex­pected for HELPE

Kathimerini English - - Focus - CHRYSSA LIAGGOU

The two can­di­date in­vestors vy­ing for 50.1 per­cent of Hel­lenic Pe­tro­leum (HELPE), Vi­tol and Glen­core, are seek­ing part­ners to sub­mit joint bind­ing bids for the ma­jor­ity stake in the listed com­pany by Jan­uary 2019.

Sources say Vi­tol is in con­tact with Al­ge­ria’s Sona­trach while Glen­core is in talks with US funds. A Qatari com­pany is also said to have asked state pri­va­ti­za­tions fund TAIPED for de­tails on the ten­der process.

The rules of the ten­der al­low for the en­trance of other in­vestors in the bind­ing of­fers stage, pro­vided they are in a con­sor­tium with one of the short-listed in­vestors. In this con­text, both the can­di­date in­vestors and TAIPED’s ad­vis­ers have been con­tact­ing third par­ties in re­cent months, and now ap­pear close to meet­ing their tar­get.

Such a prospect would be very promis­ing, as the en­try into Hel­lenic Pe­tro­leum of a com­pany with the char­ac­ter­is­tics of Sona­trach would guar­an­tee HELPE’s fu­ture op­er­a­tion and strengthen its refin­ing ac­tiv­ity, the Greek group’s main field.

The in­ter­est of US funds was also con­firmed this week by Am­bas­sador Ge­of­frey R. Py­att in a speech at a Amer­i­can-Hel­lenic Cham­ber of Com­merce con­fer­ence, when he said he was look­ing for­ward to a trans­par­ent ten­der process for HELPE.

Thou­sands of

The dead­line for the sub­mis­sion of bind­ing of­fers for 50.1 per­cent of Hel­lenic Petroluem is next month.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.