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Greece's DEPA acquire Shell's 49pct stake in domestic gas supplier

Gasoil News - Published on Fri, 30 Nov 2018

Image Source: Ekathimerini
Greece's state-controlled DEPA gas company has concluded the acquisition of Shell's 49 per cent stake in a domestic gas supplier and in a gas distributor in Athens, becoming the sole stakeholder in the two companies. The deal to buy stakes in EPA Attikis and EDA Attikis, clinched in the summer, is worth EUR 150 million. DEPA, which mainly imports Russian gas, as a sole owner of the companies will now focus on speeding up network expansion for the benefit of Greek consumers.

DEPA has already agreed to back out from another domestic supplier in northern Greece. Both moves are part of Greece's post-bailout commitment to eliminate potential conflicts of interest between DEPA and domestic gas suppliers to help unbundle gas supply from distribution and boost competition.

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Posted By : Joykumar Irom on Fri, 30 Nov 2018
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