HRADF relaunches tender for the sale of a 66% stake in DESFA
Hellenic Republic Asset Development Fund (HRADF) has announced it will re-launch a new international tender for the sale of a 66% majority stake in Greece's natural gas transmission system operator DESFA this month.
HRADF has issued an invitation for expression of interest to hire financial advisors that will assist in the structuring and implementation of the new tender.
The previous tender for the sale of DESFA declared as preferred bidder the Azerbaijani company SOCAR. The completion of the transaction was contingent mainly on the approval of the competent national and EU authorities. In November 2016 SOCAR withdrew from the tender process.
HRADF decided to terminate this tender and proceed with a new tender. The new privatization program will involve again the sale of a 31% equity stake owned by HRADF and a 35% stake owned by Hellenic Petroleum (HELPE). HRADF will begin talks with HELPE to reach a memorandum of understanding for a joint sale of the 66% of shares.
The Hellenic Gas Transmission System Operator S.A. (DESFA) was established in 2007, as a 100% subsidiary of DEPA S.A as part of the liberalization of the gas market. DESFA owns, operates, maintains, manages, exploits and develops the National Natural Gas System (NNGS) and the LNG terminal located in Revythoussa island.
Further information is available here.
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