Transgaz's Shareholders Assembly approves association with Regasificadora del Noroeste on Greek DESFA privatisation

 The Shareholders Extraordinary Assembly of Transgaz company approved the association with Regasificadora del Noroeste in view of participating in the second phase of the procurement process of the 66 percent participation within DESFA, the gas pipe system operator from Greece, the company announces on the Bucharest Stock Exchange's (BVB) website.

Moreover, Transgaz's General Manager was mandated to negotiate and sign the documents of the association.

On 8 January, the operator of the Romanian gas transport system, Transgaz, announced that it wants to associate with the Spanish company Regasificadora del Noroeste (Reganosa) in order to participate in the privatisation process of the Greek gas pipe system operator, DESFA.

Reganosa will be at the head of the consortium.

The dead-line for the submission of the binding bidding is 16 February 2018. The transaction is worth an estimated 400 million euro.

This is the second attempt of the Greek state to privatise DESFA, after a previously concluded agreement with SOCAR from Azerbaijan failed, against the backdrop of misunderstanding related to natural gas tariffs. 

DESFA reported 170 million euro in sales in 2016 and a net profit of 34 million euro. Its fixed assets are worth approximately 1.3 billion euro.

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