Greece launches new tender for gas transmission operator

DESFA

DESFA's liquified natural gas (LNG) island Revithoussa,

HRADF is authorised to arrange, decide and implement the new tender process for the sale of DESFA’s 66%.


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The Hellenic Republic Asset Development Fund (HRADF) said on March 16 that its Board of Directors decided to proceed with a new tender for Greece’s natural gas transmission system operator DESFA.

In particular, HRADF said in a press release that following the withdrawal of Azeri state oil company SOCAR from the tender process in November 2016, and the respective press release by the Ministry of Environment and Energy, where it was stated that the discussions with the candidate buyers had been concluded, the Governmental Council of Economic Policy (GCEP), resolved on March 1, 2017, inter allia, the following: that HRADF decides to terminate the previous tender, conducted by HRADF for the sale of DESFA’s 66%; that HRADF decides to proceed with the sale of the 31% of DESFA shares, out of a total of 65% of shares held by HRADF, along with the 35% of DESFA shares held by HELPE; the transfer of the remaining 34% of DESFA shares to the Hellenic Republic; that HRADF is authorised to arrange, decide and implement the new tender process for the sale of DESFA’s 66%.

With view to the above, HRADF’s BoD decided on March 16, the termination of the previous tender for DESFA’s 66% and the initiation within March 2017 of a tender process for the appointment of financial advisors that will assist HRADF in the arrangements and implementation of the new tender, the press release read.

The negotiation with Hellenic Petroleum (HELPE) shall be also initiated, with view to the signing of a MOU (between the Hellenic Republic, HRADF and HELPE) for the joint sale of the 66% of DESFA shares, through the new tender that will be arranged and implemented by HRADF, the press release read.

 

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