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ATHENS, April 6 (Reuters) - Greece's biggest power utility Public Power Corp (PPC) DEHr.AT said it has shortlisted nine investors in an auction for the sale of a minority stake in its power network operator HEDNO.
PPC received expressions of interest earlier in 2021 from 11 strategic investors, grid operators and investment funds for a 49% stake in HEDNO, which it fully owns. operates a 242,000 km long grid bringing electricity to about 7 million households and businesses across Greece
Assuming an enterprise value, which includes debt, of about 5 billion euros ($6.06 billion) for HEDNO, the minority stake being sold by PPC could be valued at around 2.45 billion euros. Infrastructure Funds, British Columbia Investment Management Corporation, BlackRock (NYSE:BLK) Alternatives Management, CVC Capital Partners, Fondi Italiani per le Infrastructure, First Sentier Investors, Kohlberg Kravis Roberts & Co., Macqarie Group Limited and Oak Hill Advisors LLP have all been shortlisted.