Wednesday, June 21, 2017

Is Ukraine’s Naftogaz struggling to find investment banker to help it exit Egypt? - ENTERPRISE / INTERFAX

Wednesday, 21 June 2017

Naftogaz Ukrainy is reportedly having a tough time divesting its Egyptian assets after canceling “the second tender to provide investment banking services related to Naftogaz upstream assets in Egypt and search for potential buyers” as only one bid was submitted, Russia’s Interfax says. 
The news service claims “only E&Y LLC took part in the tender, while at the first tender France’s Lazard Frères showed its interest.” 

Naftogaz first announced intention to sell its Egyptian assets in March. Naftogaz is said to have two concessions in the Eastern Desert. We’re aware that citing a Russian source on anything Ukrainian (or vice versa) is fraught, but perhaps there’s an opportunity for someone enterprising enough to look into this.