ATHENS (Pakistan Point News / Sputnik - 12th September, 2021) Australia's Spear WTE Investments Sarl has won an international bidding auction to buy a 49% stake in the Hellenic Electricity Distribution Network Operator (HEDNO), Kostas Skrekas, the Greek environment and energy minister, said on Saturday.
"The financial bid of Spear WTE Investments Sarl to buy 49% of the HEDNO for a total of 2.116 billion euro [$2.50 billion] - is the highest price offered for the privatization of the state-run company. There is no doubt that the offered price demonstrates only positive prospects for the development of our country and reflects the confidence of the international investment community in the government," Skrekas said.
Greece's Public Power Corporation, the owner of HEDNO, will invest the money from the sale into development of renewable energy resources and electricity-saving technologies, the minister added.
Spear WTE Investments Sarl is part of Australia's Macquarie Infrastructure and Real Assets Group, which manages assets worth $148 billion.
