Τhe Greek state and Paneuropean Oil and Industrial Holdings SA – a member of Latsis Group – are in talks over a possible transfer of a joint majority equity stake in Hellenic Petroleum, the company said on Tuesday.
In an announcement to the Athens Stock Exchange, Paneuropean said talks also cover the process of a joint transfer and settlement of bilateral relations. The company said that talks have not yet been concluded but the outcome of negotiations was imminent. Paneuropean holds a 45.47 pct equity stake in Hellenic Petroleum with Hellenic Republic Asset Development Fund holding a 35.477 pct. The company’s market value exceeds 2.4 billion euros.