State and Paneuropean Oil agreed on ELPE privatization terms – Greece, 4 April 2018

As major shareholders in Hellenic Petroleum (ELPE), Greek state and Paneuropean Oil, a member of the Latsis Group, have reached an agreement to sell at least 50.1 % stake in the company through an international tender.
According to the agreement, the state privatization agency TAIPED will offer a stake of at least 20 %, while Paneuropean Oil will provide the other 30.1 %, as an absolute minimum. The state currently holds 35.5 % stake, while Paneuropean Oil owns 45.47 % of the shares.

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