Hellenic Petroleum SA (ELPE.AT) is interested in bidding for Albanian state-owned refiner ARMO, which is slated for privatization, financial daily Imerisia reported Friday.
Citing unnamed sources, the newspaper reports that Hellenic Petroleum has retained an adviser to bid for the Albanian company.
The newspaper said ARMO is valued at EUR109 million and operates two refineries. The Albanian government plans to privatize 85% of the company, with bids due by May 21.
Some 15 companies have expressed an interest in the ARMO privatization, the newspaper said.