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Aug 2015

Bernitsas Law advises on Hellenic Petroleum Sale of Stake in DEPA and DESFA

We advised Hellenic Petroleum in the sale of its stake in the Public Gas Corporation (DEPA) and Natural Gas Transmission System Operator (DESFA), along with the stake held by the Hellenic Republic Asset Development Fund, as part of the privatization of DEPA GROUP.

The Hellenic Real Estate Development Fund (TAIPED) is the Greek State owned asset development fund of Greece, set up in 2011 to leverage the private property of the State assigned to it in line with Greece’s international obligations and Medium-Term Fiscal Strategy.

Hellenic Petroleum SA is listed on the Athens Exchange and the London Stock Exchange and partly owned by the Greek State. It is part of the Hellenic Petroleum group which is active in South Eastern Europe in the supply, trading and refining of petroleum and renewable energy.

The Bernitsas Law team was led by Yannis Seiradakis and Augustine Almyroudi.