Greece gets two binding bids in gas grid sale - REUTERS

FEBRUARY 16, 2018 / 7:01 PMReporting by Angeliki Koutantou; Additional reporting by Stephen Jewkes in Milan; Editing by Karolina Tagaris and Jane Merriman

ATHENS, Feb 16 (Reuters) - Greece has received two binding bids for a 66 percent stake in its gas grid operator DESFA, the Greek privatisation agency (HRADF) said on Friday, a sale that is a key condition of the country’s international bailout.

The agency said bids were submitted by a consortium of Italy’s Snam, Spain’s Enagas Internacional and Belgium’s Fluxys, and a consortium of Spain’s Regasificadora del Noroeste (Reganosa), Romania’s Transgaz and the European Bank for Reconstruction and Development (EBRD).

Friday’s deadline for binding bids comes ahead of a euro zone finance ministers’ meeting in Brussels on Monday which will assess Greece’s bailout progress and decide on disbursing more bailout loans.

A share purchase agreement and a shareholders’ agreement for DESFA are due to be signed by April for the sale to conclude by June, before Greece exits its third bailout in August.

Stathakis upsets DESFA sale plans - KATHIMERINI

DESFA import terminal on Revithoussa, near Athens

11.01.2017 : 09:58
Chryssa Liaggou

The government is taking the privatization of gas network operator DESFA back to square one, reversing what has been agreed with Greece’s creditors on the fast-track process and the immediate restart of the existing tender.

Energy Minister Giorgos Stathakis on Tuesday informed the creditors of a new plan providing for the state to retain a 51 percent controlling stake in DESFA, along similar lines to the recent sell-off of 24 percent of power grid operator ADMIE.

Stathakis added in his letter that the government is not responsible for what DESFA’s other main stakeholder, Hellenic Petroleum, decides regarding the sale of its 35 percent stake. Therefore, given that the state’s stake comes to 65 percent, the Stathakis plan provides for the sale of just 14 percent of DESFA, which would hardly be attractive for investors if Hellenic Petroleum were to decide against putting its stake up for sale.