New tender for Greek DESFA to include 3 phases
Baku, Azerbaijan, June 19
By Leman Zeynalova – Trend:
The new tender for privatization of Greek DESFA gas grid operator will be carried out in three phases, according to Greek media.
The first phase envisages expression of interest by companies; in the second phase, which is scheduled for mid-July, interested companies will submit non-binding offers, while in the third phase, which is due in late autumn, the bidders will submit binding offers.
Reportedly, the bids will be reviewed in November and the privatization of DESFA will be completed by end of 2017.
To date, the following companies have expressed interest in participation in the tender: Belgian Fluxys, Italian Snam, Dutch Gasunie, Spanish Enagas, Romanian Transgaz, as well as new players like the French GRTgas, SFPI and Marguerite funds.
Earlier, Greece’s Government Council for Economic Policy (KYSOIP) approved the process of a new tender for DESFA.
The new tender to be conducted by Greece's privatization agency HRADF envisages sale of 66 percent of the gas grid operator.
Azerbaijan’s state oil company SOCAR won a tender in 2013 on the purchase of a 66-percent stake in DESFA for 400 million euros.
The Azerbaijani company intended to obtain a 31-percent stake from the Greek government and to buy a 35-percent stake in Hellenic Petroleum.
It was expected that the deal will be closed only after the purchase of at least a 17-percent stake out of SOCAR’s 66-percent by Italy’s Snam.
SOCAR, Snam and Greek government have been holding intensive talks against the background of changes in legislation that affected DESFA’s financial position and market value.
However, the parties were unable to reach an understanding and consequently, the deal was terminated Nov. 30.
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