April 3, 2019 / 3:34 PM / a year ago

Hellenic Petroleum sale failed to attract binding bids - privatisation agency

ATHENS, April 3 (Reuters) - The sale of a majority stake in Greece’s biggest oil refiner Hellenic Petroleum failed to attract any bids, the country’s privatisation agency said on Wednesday.

Switzerland-based commodities trader and miner Glencore had teamed up with CIEP Participations, and Vitol, the world’s largest oil trader, with Algeria-based Sonatrach after they were shortlisted to bid for a 50.1 percent stake in Hellenic.

Paneuropean Oil and Industrial Holdings are jointly selling the stake in the biggest energy privatisation Athens is implementing under the surveillance of its international lenders since its third bailout expired in August. (Reporting by Angeliki Koutantou)

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