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DESFA privatization to be completed in 1H 2016

DESFA privatization to be completed in 1H 2016

Privatization of Greek gas grid operator DESFA fails (01 December 2016 19:46)

Date: 10 December 2015 17:47

Baku, Azerbaijan, Dec. 10

By Maksim Tsurkov – Trend:

The project for the privatization of the DESFA Greek gas transport operator, in which SOCAR (State Oil Company of Azerbaijan Republic) acquired a stake, as well as eight other projects scheduled for completion in the first half of 2016, Greek media reported Dec.10 with reference to the head of the Hellenic Republic Asset Development Fund (HRADF) Stergios Pitsiorlas.

Pitsiorlas said that the projects scheduled to be completed in the first half of 2016 include privatization of DESFA, 14 regional airports, the ports of Piraeus and Thessaloniki, the Trainose railway company, Rosco repair company, a stake in Athens International Airport and others.

Earlier, representatives of Fluxys (Belgium) have agreed on the alliance with Enagas (Spain) regarding the participation in the acquisition of a 17 percent stake from 66 percent shares package in Greece’s DESFA. The Hellenic Republic Asset Development Fund (HRADF) said that it has received a formal proposal from the alliance.

Energy Minister Panos Skourletis said that for the completion of the sale of the 49 percent controlling stake in DESFA to Azerbaijani state firm SOCAR, another 17 percent must be sold to a European Union firm, with the SOCAR also having a say in the selection of the new stakeholder.

An informal interest in DESFA has been expressed by Dutch company Gasunie.

SOCAR won a tender in December 2013 on the sale of 66-percent share in DESFA for 400 million euros. The European Commission started an inquiry into the compliance of the deal on acquisition of a stake in DESFA with the EU’s regulations In November 2014. Currently, the deal is being considered by European Commission’s Directorate-General for Competition, and the procedure will last until late 2015.

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