Russia’s Sintez Not To Bid For Greece’s DEPA, May Bid For DESFA

FOX

Sintez was one of two Russian companies, alongside state gas giant OAO Gazprom (GAZP.RS) that showed initial interest in DEPA. But Sintez, controlled by Russian tycoon Leonid Lebedev, said in a statement Monday it is only considering a bid for DESFA.

"A final decision on whether to submit a binding offer will be made in the near future following review of the final versions of the shareholder agreements and sale contract," the company said.

The sale of DEPA and DESFA are a flagship for Greece's European Union-backed privatization drive, aimed at bolstering the country's finances and paying off debt.

The gas companies have drawn interest from five different investors from Russia, Greece and Azerbaijan, but it remains unclear how many will submit final binding offers.

Gazprom Chief Executive Officer Alexei Miller has visited Athens three times in recent months. Gazprom supplies the bulk of Greece's gas.