Public Power Corporation S.A. (PPC S.A.) announces that the first phase of the tender process for the acquisition of the 66% of the share capital of IPTO (ADMIE) has now been completed. Five (5) Expressions of Interest (EoI) were submitted, indicating strong competition and robust international investor interest. PPC will review the submissions and invite the interested parties who qualify according to the EoI criteria into the second phase of the process. As part of this second phase, qualified parties will be given the opportunity to conduct a thorough due diligence and will be invited to submit binding financial offers for the acquisition of 66% of the share capital of IPTO.
HSBC Bank plc, Citigroup Global Markets Ltd., and NBG Securities are acting as financial advisers, KLC and Norton Rose Fulbright as legal advisers to PPC on the tender process for IPTO.
Athens, Μay 9, 2014