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Apr 2018

Bernitsas Law advises consortium on tender for acquisition of DESFA

Bernitsas Law advised a consortium of S.N.T.G.N. Transgaz SA, The European Bank for Reconstruction and Development, Reganosa Asset Investments, SL and Regasificadora del Noroeste SA in the tender for the acquisition of a 66% stake in Hellenic Gas Transmission System Operator (DESFA).

DESFA is a subsidiary of DEPA, the Public Gas Corporation, and owns and operates the National Natural Gas System (NNGS) and the LNG terminal located on Revythoussa island. Following a resolution by the Governmental Council of Economic Policy (GCEP) on the 1st of March 2017, the Hellenic Republic Asset Development Fund (HRADF) decided to proceed with a new tender for DESFA involving the sale of 31% in DESFA held by HRADF and the 35% held by Hellenic Petroleum, with the remaining 34% being transferred to the Hellenic Republic.

Reganosa is a Spanish company engaged in the transmission and regasification of natural gas.