Glencore

Greece sets April bid deadline for Hellenic Petroleum stake, workers to strike

Greece has set an April 3 deadline for shortlisted investors to submit binding bids for a majority stake in its biggest oil refiner, Hellenic Petroleum, two sources close to the sale said on Wednesday.
Greece and Paneuropean Oil and Industrial Holdings are jointly selling a 50.1 percent stake in Hellenic.

Two consortia approved for Hellenic Petroleum bids

Greece on Monday approved two consortia to submit final bids for a 50.1 percent stake in its biggest oil refiner Hellenic Petroleum, its privatizations agency said.

The consortia are: Glencore Energy with a unit of the US-based Carlyle Group; and Vitol Holding with Algeria-based Sonatrach.

Glencore and Vitol had already been short-listed last summer.

[Reuters]

Hellenic Petroleum workers battling selloff block suitors from refineries

Workers at Hellenic Petroleum on Monday physically prevented suitors eyeing a majority stake in Greece's biggest oil refiner from entering two of its sites in protest at plans to privatize the utility, a union spokesman said.

While privatizations have been a key part of successive bailout agreements Greece has struck since 2010, they have been met with strong political resistance.

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