An agreement in principle for the sale of 35% of HelleniQ Energy in DEPA Commercial to the Greek State appears to have been reached; the two sides have apparently made progress. 

However, three issues still remain open that will determine developments:

• The dispute over Gazprom's €400 million claim for take or pay clauses for the 2021-2022 biennium, for which DEPA Emporia has appealed to international arbitration
• The open legal dispute with ELFE (formerly Phosphate Fertilizer Industry)
• HelleniQ Energy's moves with Elpedison. HelleniQ Energy and Edison are both claiming 100% of the joint company and are expected to finalize the process leading to an owner

THE DEAL

If the deal goes ahead, the state's stake in DEPA Emporia will rise to 100% from the current 65%.