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The Boards of Directors of HELLENIC PETROLEUM SA (HELPE) and HRADF SA have decided today to accept the €535 million bid of the Snam S.p.A., Enagás Internacional S.L.U. and Fluxys S.A. Joint Venture, for the sale of 66% of the share capital of DESFA SA (35% participation of HELPE and 31% participation of HRADF). HELPE share of proceeds from the sale amounts to €283.7 million.
Furthermore, the Board of Directors of HELPE invited its shareholders for an Extraordinary General Meeting on 14 May 2018 to approve the aforementioned transaction, as required by law.
It is noted that the completion of the transaction is subject to the approval of the competent regulatory authorities.
Barclays Bank PLC, through its investment bank, served as financial advisor to the Company, while Clifford Chance acted as international legal advisor on European Law issues.