The board of Greece's privatization agency (HRADF), in tandem with Hellenic Petroleum S.A. (Hel.Pe), on Monday unsealed improved financial offers for a majority stake of the country's state-run natural gas transmission system operator (DES.FA).
The improved offers were submitted by two investment schemes:
-- a consortium composed of Snam S.p.A., EnagásInternacional 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).
The agency, officially called the Hellenic Republic Asset Development Fund (HRADF), is overseeing an international tender for a 66-percent stake of DES.FA (the Hellenic Gas Transmission System Operator S.A.)
HRADF owns 31 percent of the 66-percent on the sale block, with 35 percent owned by Hel.Pe, the biggest refinery group in the country.
A press release by HRADF stated that according to terms of the tender process, it was requested from the first consortium - which submitted the higher improved offer - to submit an even further improved offer.
Any improved offer will be assessed at a subsequent meeting of HRADF’s board of directors and by Hel.Pe's appropriate corporate bodies.