Reuters: Extension by Greek authorities expected for Hellenic Petroleum bids

Greece is set to extend the deadline for two investors to submit final bids for a controlling stake in Hellenic Petroleum to give them more time to scrutinize the company’s finances, two sources close to the matter said, according to Reuters.

Glencore Energy and Vitol Holding were short-listed last summer and were given until the end of January to submit bids for a 50.1 percent stake in Greece’s largest refiner.

On Monday, Greece’s privatization agency TAIPED agreed for Glencore Energy to team up with CIEP Participations, a unit of the US-based Carlyle Group, and for Vitol Holding to team up with Algeria-based Sonatrach.

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