Home PPC PPC receives 4 bids for the intently watched HEDNO sale

PPC receives 4 bids for the intently watched HEDNO sale

This is followed by reviews of the technical documents submitted by the interested parties by PPC and then the opening of the financial offers. The participants are international investors with tens of billions of funds under management.

Greece’s public electricity company has received four binding bids for the sale of a 49 percent Participation in Hellenic Electricity Distribution Network Operator, a major deal for the country’s energy market. PPC said that Bidder are: CVC Capital Partners Group, First Sentier Investors Group, KKR Group and the Macquarie Group.

The PPC will now be checked for the technical files submitted by interested parties and then opened the financial offers. The participants are international investors with tens of billions of funds under management. In particular:

  • CVC Capital Partners is a Luxembourg-based, privately held fund management company with assets of over US $ 117 billion.
  • First Sentier is a $ 176 billion asset management company investing in power and gas distribution networks.
  • KKR (USA), manages $ 252 billion in assets, some of which is invested in infrastructure.
  • The MACQUARIE group (Australia) manages assets of 420 billion euros, including in energy networks.

With a book value of a few 3.5 billion euros, HEDNO is one of the most valuable assets for sale in the Greek electricity market. Investors see great opportunity in HEDNO’s 239,000 kilometer distribution network due to the investment required to upgrade and the ability to daisy chain 5G fiber optic cables to the network, which can provide a range of telecommunications and internet services.

HEDNO could also serve as a base for expansion into other parts of Southeast Europe, experts say. It was noticeable that there were no Chinese companies that were expected to show strong interest in the sale at an earlier point in time.

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