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April 2, 2012

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17 Investors Note Interest in DEPA Privatisation

A total of 17 investors from 12 countries,seven of which are outside the eurozone, have apparently shown interest in the privatization of the Public Gas Corporation (DEPA) and its subsidiary Hellenic Gas Transmission System Operator (DESFA S.A.).

The Hellenic Republic Public Asset Development Fund (HRADF) will now evaluate the bids by each candidate and see if they fulfill all legal and financial conditions. Once this is done HRADF will announce which qualified interested parties will be invited to submit their indicative offers.

According to the state news agency, the preselected parties will be asked to sign a Non-Disclosure Agreement, prior to receiving the Information Memorandum in addition to the documents describing the procedure for the submission of indicative proposals.

DEPA Group is active in the wholesale, trading and supply of natural gas to large customers through the parent company DEPA S.A. Through DESFA S.A., the DEPA Group owns and operates the regulated high pressure gas transport network and LNG re-gasification facilities in Greece. Through its 51% ownership of the regional distribution and supply companies, the DEPA Group is also active in the distribution and supply of natural gas to residential customers and SMEs. The DEPA Group is also active in key international transit pipeline projects such as the Greece-Italy Interconnector, Greece-Bulgaria Interconnector and South Stream. (AMNA)
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