Three investment funds controlling major electricity grids in Europe and third countries are reportedly among the interested parties in a coming tender for 49 percent of the Hellenic Electricity Distribution Network Operator (DEDDIE), a fully owned subsidiary of Greece’s one-time power monopoly, ATHEX-listed PPC.
The same reports point to initial interest by 10 investors.
An invitation for submission of expressions of interest was posted on Tuesday evening on PPC’s webpage, immediately after being approved by the utility’s board of directors. The tender process is expected to be completed within 2021.
Among others, PPC requires interested suitors to have a balance sheet of at least 750 million euros over the past three-year period, or 3.75 billion euros in capital if they are investment funds.
