Greece intends to privatize DESFA by year end

Baku. 12 October. REPORT.AZ/ Greece aims to get binding offers from investors shortlisted for a 66 percent stake in state-controlled natural gas grid DESFA by the end of the year. 

Report informs citing the Reuters, two sources close to the process said on Wednesday.

Under its latest international bailout with the European Union and the International Monetary Fund, Greece is selling a 31 percent stake in DESFA and Hellenic Petroleum is selling its 35 percent stake in the grid. The country needs to conclude the sale by the end of the year.

Spain’s Regasificadora Del Noroeste (Reganosa) and a consortium of Italy’s Snam, Spain’s Enagas, Belgium’s Fluxys and Dutch Gasunie got the green light last month to carry out a due diligence process before they submit binding bids.

“They (bidders) are in the process of getting access to DESFA’s virtual data room,” an official with knowledge of the matter told Reuters. “The aim is to have binding bids before the end of the year.”

Another source said the offers were expected in December.