Alternative scenarios tabled for Hellenic Petroleum concession

The privatization of energy firms is entering the final stage and is expected to bring radical changes to the landscape in the local market.

According to the government's agreement with international its creditors, March should see the start of the privatization process for Hellenic Petroleum (HELPE) and Public Gas Corporation (DEPA), with the concession of a 17 percent stake in Public Power Corporation (PPC) coming in June. All three projects ought to be completed by the end of the year.

Regarding HELPE, the main objective is the concession of a 35 percent stake held by the state. However, the agreement also foresees the option of conceding a smaller stake, but with the Latsis group also selling a stake in the firm, which it holds via Paneuropean. That would mean that state sell-off fund TAIPED puts a total share package of 51 percent in HELPE up for sale, providing...