Greece announces preferred investor for acquisition of DESFA’s 66% share
Baku, Azerbaijan, April 19
By Leman Zeynalova – Trend:
The Board of Directors of the Hellenic Republic Asset Development Fund (HRADF) has unanimously accepted on April 19 the improved financial offer of the consortium composed of the companies Snam S.p.A., Enagás Internacional S.L.U. and Fluxys S.A., Trend learned from HRADF.
The financial offer of the consortium for acquisition of 66 percent share in Hellenic Gas Transmission System Operator S.A. (DESFA) stands at 535 million euros, said HRADF.
The Board of Directors of HELPE has also accepted the above offer and in due course an Extraordinary General Meeting of Shareholders will resolve upon such decision.
The file of the tender process will be then submitted to the Court of Audit for pre-contractual audit and the relevant transaction documents will be executed after the approval by such Court. The completion of the transaction is conditional to the competent authorities’ approvals.
Alantra Greece Corporate Advisors S.A. and Alpha Bank S.A. acted as financial advisors to HRADF and Koutalidis Law Firm, Clifford Chance LLP and Holman Fenwick Willan LLP as legal advisors.