Macquarie named preferred bidder for stake in Greek power grid operator

·

Public Power Corp (PPC), Greece’s biggest power utility, on Thursday formally named Australian infrastructure giant, Macquarie, as the preferred bidder for a minority stake in its fully-owned power grid operator, Hellenic Electricity Distribution Network Operator (HEDNO).

PPC shareholders will take a final decision on the bid at a meeting scheduled for October 19, PPC said.

PPC earlier this month said the offer by Spear WTE Investments Sarl, a member of the Macquarie Infrastructure and Real Assets Group, valued the 49% stake at 2.1 billion euros, including debt of 804 million euros, making it the highest among four groups which issued binding bids.

READ MORE: Australian company declared highest bidder for stake in Greece’s national grid operator.

PPC sources said it was the biggest privatisation in Greek history and noted that PPC will be able to significantly reduce its borrowing while it will also fund its investment program in renewable energy sources.

At the same time, HEDNO, with the support and know-how over an international partner and under PPC’s management, will develop an expanded modernisation and digitalisation program of its network, offering better and more quality services.

HEDNO operates a 242,000-km long grid, which brings electricity to about 7 million households and businesses across Greece.

Source: Ekathimerini.

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Alumni excellence celebrated in style at Oakleigh Grammar

Oakleigh Grammar has inducted two more former students into the prestigious Alumni Hall of Fame.

A pilgrimage to heroic Souli: Remembering the legacy of the Souliotes and Souliotises

Nestled in the rugged mountains of Epirus, Souli is more than just a historical site—it is a symbol of resilience and bravery.

The First Ecumenical Council of Nicaea: Defining Orthodoxy and preserving Hellenism

The First Ecumenical Council of Nicaea, convened in 325 AD by Emperor Constantine the Great, stands as a pivotal event in Christian history.

From PAK to PASOK: Sakis Gekas to lecture on anti-dictatorship resistance in Toronto

The talk will feature some of the key moments of the anti-dictatorship struggle and its manifestations in the public sphere.

US urges EU to abandon protections for feta and other regional products

The United States is ramping up pressure on the European Union to eliminate its system of geographical indications.

You May Also Like

British family abused by Greek police after being mistaken as refugees

British woman Tifa Givian, who left Iran 30 years ago and now lives in Greece, was told to "stand with the rest of her people,” after walking through the Lesvos port with her family last weekend.

Olive oil: ‘King of Foods’ for tourists and locals in Crete

Papaioannou evokes a welcoming picture of the “olive groves dotting the landscape,” where tourists can explore olive harvesting techniques

Anastasiades and Tatar expected to meet for first time since April

Nikos Anastasiades, and Ersin Tatar, will meet next month at a social event to be held by the United Nations in Cyprus.