DEPA’s main objective is to strengthen Greece’s role as a gas hub

Caspian Energy (CE): Mr. Spanoudis, how is the process of privatization of DEPA going? Which companies are major candidates for acquisition of 65% of the state package? Will the state preserve the control package?

George Spanoudis,Chairman of the Board of DEPA Group: As it is publicly known, the Hellenic Republic Asset Development Fund (HRADF), who is the majority shareholder of DEPA, launched the privatization of DEPA Group on February 2012. In January 2013, following the submission of indicative offers, selected bidders were qualified for the final stage of the bidding process. However, the privatization of DEPA was not completed, as there was no binding offer submitted by any of the bidders in the final stage of the process. Since then (June 2013), there have been no developments with respect to the privatisation of DEPA, which is an area of exclusive competence of the Hellenic Republic Asset Development Fund.