The Hellenic Republic Asset Development Fund (HRADF) and the Hellenic Petroleum S.A. Group (HELPE) have announced the completion of the transfer of 100% of the shares of Greece's gas distribution operator DEPA Infrastructure to the Italgas SpA Group.
HRADF has tendered the sale of DEPA Infrastructure, with 65% of the share capital put up by HRADF and 35% by HELPE. Italgas SpA Group made the winning offer of EUR733 million (US$732 million).
DEPA Infrastructure holds shares in three gas distribution companies: 51% of Thessaloniki - Thessalia Gas Distribution S.A. (EDA Thess), 100% of Attiki Natural Gas Distribution Single Member Company S.A. (EDA Attikis), and 100% of Public Gas Distribution Networks S.A. (DEDA). Italgas SpA Group is a natural gas distribution operator in Europe and operates a distribution network of about 75,000 km.