Agreement to sell 66% of Greek natgas system operator for €535 million

A contract to sell-off 66% of Greece's state-run Gas Transmission System Operator S.A. (DESFA) was signed on Friday between the country's privatization fund (HRADF) and Hellenic Petroleum (Hel.Pe) group, on the one hand, and the consortium that had submitted the highest offer for the majority stake, Senfluga Energy Infrastructure Holdings S.A. The agreement is worth 535 million euros, and is the result of a memorandum-mandate privatization process that the Greek government agreed to implement, with energy sector liberalization and sell-offs comprising one of the most significant portions of the bailout agreement. The consortium is comprised of Snam S.p.A., Enagás Internacional S.L.U. and Fluxys S.A.   The 66% stake that will be sold off is comprised of 31 percent owned by the Hellenic Republic Asset Development Fund (HRADF) and Hel.Pe group, with 35%. The transaction and handover of the utility is expected to be concluded by the end of the year. Greek and EU regulatory authorities have already greenlighted the sale, with the contract also clearing an obligatory Court of Audit review.  Read more at naftemporiki.gr RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report