HRADF to sell DEPA Infrastructure to ITALGAS for 733 million euros

The Board of Directors of the Hellenic Republic Asset Development Fund (HRADF), a member of the HCAP Group, οn Thursday convened and proceeded to the unsealing of the improved financial offer submitted by ITALGAS SpA for the acquisition of 100% of the share capital of DEPA Infrastructure S.A., a joint sale with Hellenic Petroleum S.A. (HELPE).

The improved financial offer envisages an upfront payment of 733 million euros.

HRADF’s Board of Directors accepted the offer and declared ITALGAS SpA as the Preferred Bidder. The Board of Directors of HELPE has also accepted the above offer.

Currently, HRADF holds a 65% stake of DEPA Infrastructure’s share capital and HELPE the remaining 35%, acting as joint sellers.

A file relating to the tender process will be submitted to the Court of Auditors for the precontractual audit; the relevant transaction documents will be executed following the Court of Auditors’ approval.

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