Italgas S.p.A. (BIT:IG) outbid EP Investment Advisors, s.r.o. in a tender for the sale of Greece's state-controlled Depa Commercial S.A., Greek energy news site energypress.eu reported on September 3, 2021. Hellenic Petroleum S.A. (ATSE:ELPE) are jointly selling their 65% and 35% stakes respectively in DEPA Infrastructure. The country's privatisation agency (HRADF), which is managing the sale, said on September 2, 2021 it had unsealed the two binding offers submitted by Italgas and EP and that it would initiate a process to ask bidders to increase them.

It did not disclose the highest bidder or the size of each offer. Citing unidentified sources, the report said Italgas had submitted the highest bid, which was believed to be close to €700 million ($831 million). HRADF and Hellenic Petroleum declined to comment.

Italgas said it would not comment on rumours. Two sources close to the process said on September 3, 2021 that improved offers were expected by September 8, 2021 before HRADF's board convenes to discuss the matter, most likely on September 9, 2021.