Greece's privatization agency, the Hellenic Republic Asset Development Fund (HRADF), on Thursday requested improved bids by the two consortia that have submitted binding offers for the acquisition of 66 percent for the Hellenic Gas Transmission System Operator S.A. (DES.FA).
By K. Deligiannis
[email protected]
Greece's privatization agency, the Hellenic Republic Asset Development Fund (HRADF), on Thursday requested improved bids by the two consortia that have submitted binding offers for the acquisition of 66 percent for the Hellenic Gas Transmission System Operator S.A. (DES.FA).
Selling off a majority stake of the utility, along with its management, is a memorandum-mandated privatization.
HRADF's board on Thursday opened the sealed offers by the two bidders.
The 66-percent stake is divided between HRADF (31 percent) and the Hellenic Petroleum (Hel.Pe) group, with 35 percent.
Binding offers were submitted by:
• A consortium composed of Snam S.p.A., Enagás Internacional S.L.U. and Fluxys S.A.
• A consortium composed of Regasificadora del Noroeste S.A., Reganosa Asset Investments S.L.U., S.N.T.G.N. Transgaz S.A. and the European Bank for Reconstruction and Development (EBRD).