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Parliamentary questions
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8 November 2018
Question for written answer E-005682-18
to the Commission
Rule 130
Nikolaos Chountis (GUE/NGL)

 Subject:  Illegal sale procedure of Hellenic Petroleum S.A. (HELPE)
 Answer in writing 

The Hellenic Capital Market Commission decided that the binding offers for the sale of 50.1% of the Hellenic Petroleum S.A. shares must be submitted by the beginning of 2019 and no public offer is required to be provided by the new buyer to the shareholders of the listed company.

Irrespective of the opinion one may have regarding the above privatisation, taking into account that directive 2004/25/EE provides that in such cases, for the equal treatment and protection of all shareholders, the offeror is required to submit a public purchase offer for the shares and the minority shareholders, can the Commission say:

Does the above decision by the Hellenic Capital Market Commission comply with Directive 2004/25/EC? Does European legislation provide for an exception to Article 5 of Directive 2004/25/EC in the case of public companies to be privatised or companies where one of the shareholders is the State, as in the case in question?

In such a case, do the minority shareholders of public listed companies have reduced protection compared to the shareholders of private companies?

What is the Commission going to do immediately to stop the illegal sale procedure of HELPE?

Original language of question: EL 
Last updated: 20 November 2018Legal notice