HRADF says Hellenic Petroleum tender progressing smoothly

A US Justice Department decision to subpoena Glencore does not affect an international tender for the purchase of a majority stake in Hellenic Petroleum and the participation of the US company in the tender, Hellenic Republic Asset Development Fund (HRADF) legal sources said on Wednesday.

The same sources stressed that the terms of the tender have ensured, at all stages, procedures and interventions if necessary. They added that, for the time being, the US Justice Department has not pressed any charges against Glencore or its executives, noting that the investigation could last for years.

On July 3, Glencore said that the Justice Dept. served the company with a subpoena to the company asking for data and information over alleged breach of legislation on corruption and money laundering from illegal activities in Nigeria, Congo and Venezuela.

Source ANA-MPA
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