Completion of the sale and transfer of the shares of ATHENS EDA ATHENS and EPA ATTICA by ATTIKI GAS BV (SHELL Group Company) to DEPA

Source Press Release
Company DEPARoyal Dutch Shell 
Tags Asset Deals, Deals, Refining & Marketing Activities
Date November 28, 2018

The sale of 49% of the share capital of the company "NATURAL GAS - HELLENIC ENERGY COMPANY" (EPA Attikis) and the "ATHENS DISTRIBUTION ATTIKI SA" (Attica) was completed yesterday with the transfer of the respective shares by Attiki Gas BV which is a wholly-owned subsidiary of Shell Gas BV, a Royal Dutch Shell group) to the Public Gas Corporation SA (DEPA).

This transfer is made on the basis of the relevant Share Purchase Agreement between DEPA and Attiki Gas BV signed and announced on 13.07.2018 and after the unconditional approval of the transaction by the Hellenic Competition Commission with the unanimous decision of 21.11.2018 her.

Financial advisers of DEPA in relation to the transaction were Rothschild and Alpha Bank and legal advisors, the law firms "Labadarios" and "Koutalidis". Opinion on the fair and reasonable transaction was provided by Eurobank.

DEPA, as the sole shareholder of the companies, supports their development in order for the expansion of the use of natural gas for the benefit of the Greek consumer to proceed more rapidly.

This acquisition is of strategic importance to DEPA as this transaction completes the restructuring of its participations in the retail energy market in a way that serves its strategic objectives, promotes competition and at the same time is a milestone for its transition to the new era, in the context of the reform of the country's energy map.   

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd