Five investment schemes express interest for privatization of Greek oil refiner

By Maria Spiliopoulou

ATHENS, May 30 (Xinhua) -- Five investment schemes submitted expressions of interest for the privatization of the Hellenic Petroleum S.A. (HELPE) oil refiner, Greece's privatization fund announced on Wednesday evening.

According to an e-mailed statement by the Hellenic Republic Asset Development Fund (HRADF) the fund received expressions of interest for the acquisition of a majority stake in the share capital (at least 50.1 percent) of HELPE by Alrai Group Holdings Limited, a UK-based company, and a consortium composed of the companies Carbon Asset Management DWC-LLC and Alshaheen Group S.A.

In addition, expressions of interest, according to the announcement, were submitted by the Gupta Family Group Alliance, Glencore Energy UK LTD and Vitol Holding B.V.

"HRADF's advisors will evaluate the aforementioned expressions of interest and submit to the Fund's Board of Directors their recommendation regarding the candidates that qualify for the next phase of the tender," the statement concluded.

The sale of the majority stake in HELPE is part of the Greek privatization program launched eight years ago under bailout agreements with international lenders. Enditem