Two bids for 24 % stake in ADMIE – Greece, 21 October 2016

Deadline for the submission of bids for the second, binding round of the tender for the sale of 24 % stake in Greek electricity transmission system operator ADMIE passed today, with two bids being submitted. According to unofficial sources, Italian Terna and Chinese State Grid of China Corporation (SGCC) have submitted the bids, while the third candidate, French EDF withdrew from the tender.
The bids will be opened this week and the preferred bidder is expected to be announced before 31 October, while the contracts regarding the purchase of 24 % stake in ADMIE should be finalized in November. The prospective buyers will be asked to improve their offers if the initial bids fail to cover the evaluated market worth of the 24 % stake in the company.

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