Romania: Transgaz files intent letter in Greek gas distribution network privatization

Romanian state-owned gas transporter Transgaz and French GRTgaz have submitted a letter of intent to acquire 66% of the shares of Greek group DESFA. The Greek company is being privatized by the Hellenic Republic’s Fund for the Development of Assets (HRADF).

The sale of the majority stake in DESFA is part of the measures agreed by the Athens authorities with the European Commission and international financial institutions as part of the program for the recovery of the Greek economy.

The DESFA privatization was re-launched after a deal with Azerbaijan’s SOCAR was canceled in 2016. That deal collapsed after the passing of legislation that raised DESFA’s gas tariffs by a lower amount than SOCAR had expected, Reuters reported.

The other companies submitting letters of interest in the privatization were Macquarie Infrastructure and Real Assets (Europe) Limited, a consortium made up of Italian Snam S.p.A., Madrid-based Enagás Internacional S.L.U., Belgium-based Fluxys S.A. and Dutch N.V. Nederlandse Gasunie, Spanish Regasificadora del Noroeste S.A, USA-based Integrated Utility Services Inc. (INTUS) and Qatar-based Powerglobe LLC.

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