Greece has received five expressions of interest for a majority stake in its biggest oil refiner Hellenic Petroleum (HEPr.AT), the country’s privatizations agency said on Wednesday.
Greece last month launched a tender to sell at least 50.1 percent of Hellenic in one of the biggest asset sales under Athens’ three international bailouts since 2010.
Initial interest was submitted by Alrai Group Holdings Limited, a consortium comprising Carbon Asset Management DWC-LLC and Alshaheen Group, Gupta Family Group Alliance, Glencore Energy UK (GLEN.L) and Vitol Holding B.V., the agency said.
Greece and Paneuropean Oil and Industrial Holding are jointly selling a stake of at least 50.1 percent in the refiner.
Hellenic is Europe’s third biggest oil refiner based on its market value of 2.2 billion euros. Paneuropean Oil owns 45.5 percent and the Greek government holds a 35.5 percent stake.
The deadline for making submissions expired at 1400 GMT on Wednesday.
Sources have said that Greece and Paneuropean Oil want to maintain a stake of about 15 percent each in Hellenic. The exact size of the holding to be sold will not be disclosed until short-listed investors are invited to submit binding offers.
The agency said its advisers would evaluate the expressions of interest and make recommendations to its board of directors on the companies qualifying for the next phase of the tender.
Source: Reuters.com